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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: The Chairman and I might have a similar opinion but I will wait until later on when the working group has completed its work, if I may. It is a group I chair and I would need to consult with it. I will, however, speak directly on the issues raised by the Chairman. An initial point is that I very much appreciate the public consultations that took place because the meetings of the working...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: There is absolutely no point in this committee or the working group publishing reports if we do not have a detailed timeline around it. I have met the insurance companies and Insurance Ireland on this and have said to them that we are going to come with an ambitious and a detailed timeline for the implementation of every single recommendation we put forward. We want to show a determination...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: In so far as a monthly review is concerned, I have no problem with appearing every month before this committee to talk about what the working group is doing. From January, we will have two tasks - ensuring that the implementation of the recommendations is taking place, but we will be moving to other areas of the non-life insurance market as well. No doubt members of this committee have been...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: To correct something I just said, the court case has concluded and that is why we are waiting for the updated legal advice based on the conclusion of the court case. As regards sharing legal advice, I will have to check on that because we have had difficulties previously concerning what legal advice can be shared, and what happens to it upon sharing it. I cannot therefore give a commitment...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I will, yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: To clarify, when the Senator spoke of the elephant in the room, was she talking about these super-cycle trends whereby the insurance industry players follow each other up and down the hill depending on where the market is?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: The Senator is right to say that the State must not be a neutral actor in this. The State must intervene to protect consumers as well as protecting the insurance market. We need reform across a lot of areas. As the Chair also said, there is no silver bullet policy issue here. There is a range of complex policy responses that need to be taken. That is what our emerging recommendations,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: Data are the key to understanding everything, including the claims resolution process in the 70% of cases we cannot see. Data are also crucial to understanding how insurance companies are operating themselves, as well as being essential to consumers understanding exactly how their insurance premiums are priced. Data are also necessary to check fraud and cut out uninsured driving by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I have. In terms of the commitments that have been given to me by the insurance industry at our meetings, the industry has agreed that we need this database and it is willing to perform the necessary functions. We are using legislation to do this so as to ensure that there can be no uncertainty about what information is being sought and how it is to be presented. Following engagements of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I am speaking at a remove because the Judiciary is the Judiciary and I represent the Government. The separation of powers is important. Everything that has been happening in the UK post Brexit only underscores the importance of that separation to the people's faith in their judicial system and in their ability to have their natural and civil rights protected by an impartial system....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I have had no interaction with the Judiciary.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I cannot speak for the Injuries Board in this regard either. However, I have heard no negative feedback about the examination being done by the board and the Department of Justice and Equality of the legislation that underpins the board, which has already commenced in line with the recommendations, or about the review of the book of quantum and its possible future iterations. As regards...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: From my interactions, I would not assume that there has been no buy-in from the Judiciary into what we want to achieve.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I have not seen the report's detailed recommendation. In our work, however, we have come up against certain constitutional road blocks that affect what we can do regarding personal injuries, including soft tissue ones. What is clear from the relevant data that I have seen is that we are outliers when it comes to award levels and the number of claim applications. A personal injuries...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I am unsure as to what the Senator means by "special regime". I have not read the recommendation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: The Senator is right. The idea that we would blame people who have made a legitimate claim is unfair. The purpose of an insurance company is to pay out on claims when an accident happens. That is insurance. We must maintain that at the core of a properly functioning insurance market, but we must also recognise in the information that we have seen that fraudulent or exaggerated claims are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: Absolutely.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I thank the Deputy. We just touched on this with his colleagues on the committee around getting the right data. In our emerging recommendations, which will be finalised in December, we will be doing this through legislation. The working group has found it difficult to get the information we want from the industry, in so far as trying to drill down into some of the problem areas, including...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: Deputy Doherty is absolutely right when he speaks of the control of data being key and data being presented in a certain way to make a certain impression. This has been part of the difficulty we have all had in trying to get to grips with what has been happening over the past number of years. Companies have used their data in their own way as part of this blame game, and that needs to end....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: This is the way the interaction has gone. I do not want to paint a particular picture of the industry but the control is an issue and the fact that a commitment given is interpreted one way, either intentionally or not, and then afterwards it does not stack up. Legislation has to be brought in and this is going to be one of the priority areas for that legislation. I did not mean to...