Results 1,421-1,440 of 1,760 for speaker:Aideen Hayden
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: The next contributor is Mr. Thompson.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Before calling Deputy Paul Murphy, I want to ask a brief question for clarification. Under this memorandum of understanding with Insurance Ireland, exactly what information is the OPW giving it? I thought the intention was to provide what was basically a map of the country showing places where a requirement for flood works had been identified. This is where I would like clarification....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: So the only information the OPW exchanges with Insurance Ireland is in regard to completed flood defence works?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: That is one flood every 100 years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Right. It just goes to show-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: I ask that because, obviously, Insurance Ireland, in terms of what it decides is a flood risk area, has its own maps, geographers and risk assessors looking at potential flood plains and so on. I wanted to clarify that the OPW's role is only to notify information relating to completed flood defence works.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: It should be reflected in the insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Deputy's Fleming point was that if I saw my area on a list completed flood works it would be happy days, but if it was on a list of areas where flood defence works had been identified as necessary, that would be a different matter. I would like clarification for anybody listening that that is the situation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: I am thinking about Deputy Fleming's scenario in which I receive a letter from my insurer saying it has received information from the Office of Public Works-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: -----that it will be doing some flood defence works in my area.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: I might add one or two quick questions. The nub of it is in a paragraph that Mr. Smyth did not put on the record. He said in this paragraph of his submission that he was satisfied that "the insurance industry is engaging constructively and positively through the working group established under this memorandum of understanding and that there is a strong willingness to co-operate to reach...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Is Mr. Smyth hopeful it will generate a metric or is there a requirement in the memorandum for that metric to be given back? Is there an obligation for information to be given back to the OPW to show the benefit of the information the OPW provided to the insurance industry?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: The use of the phrase "explore the possibility" shows that we are into nebulous, touchy-feely language. There is no obligation on the insurance industry to feed back to the OPW with regard to the impact on the receivers of insurance services.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: The committee would like to know whether this exchange of information is going in both directions because we would like to know that these flood defence works, once completed, are having an impact on the premiums and the insurance products being offered to customers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: I might ask the committee secretariat that, once that metric has been agreed, the OPW would inform us, for circulation to our members, what that metric is. Once the OPW has had the benefit of the full year cycle, I would ask that this information be fed back to us as a matter of urgency when it is received.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Mr. Horan is saying 91% of policyholders in areas where flood works have been completed are insured.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: Could Mr. Horan add to that? Of that 91%, how many policyholders are paying an excess for flood insurance? I do not know if this information is available, although I presume it is. What is the extent of the increased excess? If I live in a flood area and my excess is €35,000 or €40,000 then I might as well not be insured. Could Mr. Thompson indicate exactly the extent of the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: It is a bit -----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Flood Risk Insurance Cover: Discussion (15 Apr 2015)
Aideen Hayden: I understand that individual insurance purchasers will choose to opt, as with a VHI policy, for a larger or smaller excess. But I believe Mr. Thompson could indicate a range so that it might be more transparent to the committee what types of excess are required or requested in areas where flood defence works have been completed - that is, where the memorandum of understanding is in place....