Results 5,001-5,020 of 13,254 for speaker:Seán Sherlock
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: There is-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: There is a legislative provision to do that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: In other words, we in the Oireachtas could influence that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: If Mr. Faughnan is saying that historically premiums were reducing to a critical point where they were not able to cover the costs-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: -----what is the natural correction? Is there an assessment of a figure of a natural correction because the assumption here is that we will accept a correction-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: -----but it seems there is a loading on that correction which is now moving it into the supernormal profits, if I can incorrectly use that term. In other words, if somebody had paid a premium of €500, for example, and this year it is €800, of the €300 extra, what is the correction and what is absolute supernormal profits? That is why if one speaks to Mr. Kian Griffin's...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: Obviously, it is in a pretty secure position because it has three underwriters. Perhaps that is the norm; I do not know. It seems to me that the underwriters, which are big international houses, are influencing the market in little Ireland because it is a small market in global terms. We should interrogate that further because I think Mr. Faughnan is saying that there is hope in terms of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)
Seán Sherlock: That is why the working group, with political support on a cross-party basis and working proactively with all of the stakeholders, has the potential to get to the nub of this problem.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: I too thank the delegations for attending the committee today. The points they have made have been raised previously by others who have intervened. There is a common purpose there which is distilled down into a number of issues, namely, about access to proper data and ensuring an upgrading of the book of quantum. An additional point was made today by the Irish Road Haulage Association,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: I do not want to give Ms Murphy platitudes. I think we all appreciate the attendant costs that are being loaded on to the sector. Our purpose here is to try to drill down. My understanding is that there is a single European market for insurance. I want to get to the nub of the interaction between the witnesses and the working group. It appears that there has been no engagement so this...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: Essentially, there is a point to be made on the issue of access or opening up the market to insurance on a pan-European basis or throughout the European Union. If I understood Mr. McDonnell correctly, what he is saying is that there is an inconsistency in what hauliers are being quoted by the same company. That is something the committee needs to take on board. I will leave it there but...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: To clarify that-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: Has the Car Rental Council engaged with the cost of insurance working group set up by the Minister?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: No, I meant the Minister of State, Deputy Eoghan Murphy, who is chairing a working group on this issue.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: Is the position the same for Mr. Herron and Mr. McDonnell?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: I recommend that this committee endorse any approach by the four witnesses present and their organisations to engage with the working group further on this issue.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)
Seán Sherlock: Thank you.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
Seán Sherlock: I thank the witnesses for coming before the committee. I want to drill down to this issue of data. It seems there is not perfect knowledge in terms of how the industry operates. We do not have perfect knowledge except through the reports we have from the PIAB. Its submission to the committee gave the average award from 2009-15, which was approximately €23,000. The PIAB submission...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
Seán Sherlock: Is Mr. Carty telling us that he has access to the data?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
Seán Sherlock: I just want to drill down into this. If Mr. Carty has access to risk intelligence, presumably that forms the pricing mechanism.