Results 14,341-14,360 of 26,086 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will they drop proportionately?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If I am paying €1,000 per year for motor insurance and claims drop overall by 50%, is Mr. McMahon telling me that my motor insurance will decrease to €500?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: How will the insurers do that? Will it be based on overall claims across a range of areas or just on motor insurance claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will it be based on claims across all business areas?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: I presume that FBD's largest number of claims are on car insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: What is the proportion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: To what value do those proportions equate? Some 50% of injury claims are on motor insurance, but what percentage of the actual payout on claims relates to motor insurance? Is there a correlation? Do the percentages that Mr. McMahon provided relate to the number of claims or their value?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: What is the ratio in terms of the number of claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Are the personal injuries in motor insurance claims of a common variety, for example, whiplash? What is the percentage? Are the bulk of claims at the lower end? Mr. McMahon probably heard our discussion this morning and knows that the Court of Appeal is dealing with the upper end of serious injury claims. Are the bulk of payouts in routine areas?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If we see a situation whereby-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: That is what we need to find out. From the committee's discussion this morning, I believe that the minimum payout for whiplash is €21,000. I am going by memory. Maybe the Chairman will correct me, but I believe that was the figure. If it decreases to €10,000 and FBD sees a 50% reduction in payouts under the book of quantum across a range of areas, will I see a 50% reduction...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will Mr. McMahon give that commitment publicly?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Is Mr. McMahon willing to say now that there is a direct correlation between the premiums that insurers charge and, under headings, insurance claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Has FBD made submissions to the Department of Finance, the Department of Justice and Equality and various Ministers regarding the terms of reference for drawing up a new book of quantum by the proposed judicial council?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: I wish to ask a question that did not come up earlier. Does FBD Insurance underwrite itself or does it have underwriters?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will Brexit have any impact on the business model?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: What is the breakdown of FBD Insurance's customer base between farming, small businesses and individuals?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: As such, 85% of the business is tied into the SME sector. It is very simple then. Everything appears to revolve around the book of quantum and its revision. Once the legislation has passed this committee must engage actively in determining the terms of reference of the revision of the book of quantum. We can pursue a review all we want but the terms of reference will be absolutely key....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: We will say it is the premier Irish insurer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If FBD Insurance is willing to make a commitment that if the book of quantum brings about a reduction in awards there will be a directly correlated and proportional reduction in premiums, then we have something structured to work on.