Results 5,321-5,340 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: I will respond to that, if the Chair does not mind. If the Department is taking a Bill through a House, it will not lodge another Bill until that one has been 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: Not very often.
- 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 not a criticism of just the Seanad. When filibustering occurs, other legislation gets delayed. It is a criticism of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: We find ourselves in the dark on far too many of the settlement channels. We have access to wards of court settlements and PIAB settlements, but the majority of cases are settled without anyone having access except for the individual and the insurance company. We do not know what the percentage is. When one aggregates the channels-----
- 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 percentage of total settlements that are settled out of court, on the steps, before PIAB, after PIAB or before any form of medical report is requested. We do not have access to that information.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Insurance companies have different settlement models. I have spoken with all of the companies. Unusually, some settle claims before they even get lodged. They make an offer of X thousand euro and the matter is concluded. On the other end of the spectrum, some companies will fight every step of the way even where they know that people have been genuinely injured and impacted. Other...
- 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 will be a matter for the Department, the Central Bank and the industry.
- 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 people who make policy decisions will have sight of 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: No. The Department of Finance.
- 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 aggregated data.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: We will not, but if the percentage is high or unusually high, the Department will have decisions to make. Hypothetically, we might have to insist on all claimants providing a medical report. I do not know, but that is a suggestion that-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: We do not have any analysis of the settlement channels.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: Those figures were given to the committee by the insurance sector, but we do not know whether they were accurate. We are putting on a statutory footing a structure to ensure a full analysis and detailing of the aggregate data. The hope and expectation is that, subsequently, a higher percentage of claims will be entered and concluded within the PIAB process than are settled prior to PIAB....
- 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: We expect the information for the previous decade to be transferred from Insurance Ireland by the end of the first quarter.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: We are expecting an analysis from the Central Bank six to eight months after that point.
- 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.
- 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 aggregate data will be published.
- 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 end of the third quarter of 2019.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)
Michael D'Arcy: We will be altering section 8 of the Civil Liability and Courts Act 2004 on Committee Stage of the Central Bank (National Claims Information Database) Bill. The Senator will be aware that any imagery, including video footage, from a premises has to be deleted within one month because of GDPR. We are reconciling the period in which people have an obligation to inform the owner of the premises...