Results 5,201-5,220 of 6,295 for speaker:Michael D'Arcy
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Recommendation No. 1 stated there would a bespoke breakdown of every premium. When we analysed that, there would be an additional cost to every premium. Everything we are doing is to reduce costs, not increase them. I have said before that not every recommendation will be implemented. When we did an in-depth analysis-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: The Deputy should allow me to finish. When we did an in-depth analysis, there were implications, costs and overlap of work.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Recommendation No. 2 will be implemented by the end of the year.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: That has finished.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Recommendation No. 2 will be implemented by the end of the year.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: It will be by the end of the year.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: It is agreed between Insurance Ireland and the companies.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: The protocol is agreed.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: The matter is concluded-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: I have had no complications in the past four months with this. When I first took office, I had a large number of representations from returning emigrants. The matter has been concluded with Insurance Ireland and its companies.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: The Department of Finance and Insurance Ireland have agreed a protocol which commits insurance companies to accept claims-free driving experience in another country, subject to appropriate verifiable documentation being provided. The guiding principle is to ensure that a returning emigrant is not treated any differently from any other driver, subject to verification. The Deputy might not be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: There was nothing there before for returning emigrants. The issue arose during the process.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: That has to be done through legislation. It has not been implemented.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: I cannot direct the insurance industry to do any of this. I will explain it to the Deputy because he is not aware of what the cost of insurance working group does. There are four Departments involved, as well as the State Claims Agency, the Central Bank, the Personal Injuries Assessment Board and others. I do not have authority over all of them. My job is to work with them and encourage...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: It has met once, but what has happened-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: The Deputy does not have to raise his voice.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: My hearing is fine. If the Deputy would allow me to explain. What I have proposed are two pilot schemes for taxi drivers who would be prepared to install dashboard cameras and a control box in their vehicles in order that they would be intentionally tracked by the insurance companies. There is an opportunity to do this and we are examining it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: I have not been lobbied on this by the taxi sector.