Results 5,841-5,860 of 6,295 for speaker:Michael D'Arcy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: Can I respond to the point, Chairman? I do not wish to forget my answer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: The Chairman does have people beside him.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: No. That is being attached to the legislation that Deputy Pearse Doherty has developed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: As I have said, we could not get them to do it. As they would not do it voluntarily, we are adding it to the legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: Everything that we are doing with almost the entire sector is done with kicking and screaming.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: That is the position in which I find myself.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: I cannot make them answer, Chairman.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: To respond to the question of whether one sector can hold all the other sectors, the one dynamic of all the sectors is the level of awards. If somebody is injured in a mart and ends up in court, the level of the award causes the damage. If it is an accident involving a taxi, it could be the same injury, such as a broken arm or leg or whatever the case may be, but the high level of awards is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: No, it is not entitled to know.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: It is not entitled to know.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: That is what we are doing with the provisions attached to Deputy Pearse Doherty's Bill.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: The Chairman has told me to require insurance companies to disclose awards and that is what we are doing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: Whether or not they co-operate with me, if I have to pass legislation to make such provisions, I will do so. We thought we would bring them to a point where they would do so voluntarily but that turned out to be wrong. We decided-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: That is the environment in which I am working.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: I reiterate my thanks to the Chairman, the members of the committee and the Members of both Houses, who have been very helpful to me and the section of the Department that is responsible for insurance. I would love to move much faster than we are but these are the confines in which I work. It does not mean we will lessen our intensity or drive to improve the sector.

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (19 Jun 2019)

Michael D'Arcy: I thank the Deputy for his question. As he is aware, going back to the cost of insurance motor report in 2017 and the report on employer's liability and public liability insurance in 2018, the pathways are clear for what we must do. Last year, we did the Insurance (Amendment) Bill, the Personal Injuries Assessment Board (Amendment) Bill and the national claims information database. I...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (19 Jun 2019)

Michael D'Arcy: I share the Deputy's concern. We have hitched our wagon to this pathway because it was agreed with the Personal Injuries Commission and former President of the High Court, Mr. Justice Nicholas Kearns. Everybody has been, and is, on board. The Deputy's point is correct. The schedule I have highlighted and outlined in my timeline and I cannot ensure implementation within it. If we can...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (19 Jun 2019)

Michael D'Arcy: I want to highlight that I do not think a referendum is the correct direction of travel; it is the last option rather than something we are eager to do. As the Deputy is aware, the national claims information database is the correct structure to put the spotlight on the data for the insurance sector. With the change to the Solvency II rules, we did not have the data. Insurance Link is owned...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (19 Jun 2019)

Michael D'Arcy: I note the Deputy's question. The challenge we have with the GDPR is over who owns the data and how it is shared. I am not sure that it is appropriate for anybody else to receive the data.