Results 5,941-5,960 of 6,295 for speaker:Michael D'Arcy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 20: In page 5, line 29, to delete "in writing" and substitute "on paper or on another durable medium".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 21: In page 6, line 6, to delete "the following matters" and substitute ", amongst other matters, the following". Group 8 amendments relate to miscellaneous technical drafting changes. The aim is to use language which is consistent with other national and EU legislation. The various drafting changes are as follows: amendment No. 21, in section 6, to delete "the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 22: In page 6, line 11, after "agent" to insert "and the circumstances of that representation".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 23: In page 6, line 16, to delete "Data Protection Acts 1988 and 2003" and substitute "Data Protection Acts 1988 to 2018".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 24: In page 6, line 20, to delete "in writing" and substitute "on paper or on another durable medium".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: This is the nub of the Bill. It is the rebalancing of the power between the consumer and the insurer. This will be a positive aspect of it. Anybody who buys an insurance policy receives pages and pages of documentation. However, the liability all falls on the consumer if there is an issue. This rebalances it so that it is the insurer who has to ask the appropriate questions because the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: Forms may be longer but in line with this legislation they should be more simple. The language should be simpler. That is what I hope for and expect. How they formulate that is a matter for the insurance companies but the spirit of the law is to make sure it is more readable and understandable.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 25: In page 6, lines 28 and 29, to delete all words from and including “(1) This” in line 28 down to and including line 29 and substitute the following: “(1) This section provides for remedies that are proportionate to the effects of any misrepresentation on the interests of the insurer and the consumer by reference as to whether the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: It is a clearer use of language. The objective is that if there was a misrepresentation that was made in error or was innocent, somebody who has a large claim could lose the entire claim. If there is some form of penalty, however, this seeks to make that proportionate.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: It improves the language.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 26: In page 6, lines 37 and 38, to delete “not a deliberate or reckless misrepresentation” and substitute “one that was not fraudulent”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 27: In page 7, line 21, after “consumer” to insert “(relative to the contract or the steps leading to its formation)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 28: In page 7, between lines 22 and 23, to insert the following: “Provision of information relevant to contract of insurance and interpretation of certain terms 8. (1) Within a reasonable time after concluding a contract of insurance, the insurer shall, where such is relevant to the particular contract, provide the consumer on paper or another durable medium...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: We are saying that after concluding a contract, and where there is uncertainty over any term in the document, the interpretation shall be in favour of the consumer.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: Equally, the insurance distribution directive has protections prior to the contract being signed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: Yes. I am keen to make a point on this. I have pursued this with insurance companies. There would be a cost to go back and analyse previous agreements. There would be a cost on any look-back on the premiums in previous years. It would be costly to carry out and provide the analysis. There are 2 million motor policies. Even if it cost €1 per policy, that would come to a cost of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: We are covering that later in the legislation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: Last year's premium will be provided from 1 November on this year's quote.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: No, they do not.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I hear what the Deputy is saying. If there is an increase, there is a cost for an explanation in respect of that increase. There will be a cost. That is without any question of doubt.