Results 1,521-1,540 of 5,148 for speaker:Mairéad Farrell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: Okay. I wish to go back to the point when the national lottery was privatised by a Fine Gael Government in 2014. Two additional balls were added to the total numbers needed to match and win. This was always going to decrease the number of winners and increase the number of losers, which is really privatisation in a nutshell. However, we are here today because of the concern expressed by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: The question related to the risk assessment and then what decision was made at the time when PLI took over. Looking at best practice, in Britain a jackpot can only be rolled over five times. I am startled that this was not examined at the point when the national lottery was privatised. The other major biweekly lottery, the EuroMillions, is the same in that the jackpot can only be rolled...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: Regarding unclaimed prizes, it was reported by the media earlier this year that unclaimed prizes in 2020 amounted to €17 million. I am sure the people who have not claimed their prizes will not be too happy to hear that they missed them. Can Mr. Algeo specify exactly what happens to the money in the unclaimed prizes? In Britain, unclaimed prizes are directed into the relevant...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: It is quite interesting and probably something on which the committee needs to focus because, obviously, the purpose of the lottery is to generate money for good causes. The impact on those causes must be central to the focus of the committee. It is a pity that was not considered when the national lottery was privatised by the then Government.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: I wish to ask a final question relating to probability. My apologies for returning to this issue. Mr. Algeo stated that the probability of having 54 rollovers is the same as that of a die being cast 37 times without a six being rolled, which is 0.01%. We have agreed on that. For the same probability to apply to the run of rollovers means that fewer than 1 million unique tickets would need...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: Five times.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: I ask Mr. Algeo to furnish the committee at a later stage with more detail in respect of that comparison with the British lottery. I think it is a 1 in 45 million chance, as an individual, to win the British lottery, but in terms of ticket sales, etc., that obviously changes and the probability changes. I would be interested to get those figures. I can send him my specific question after...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: I ask the Chair exactly how many minutes I have because he will want to contribute as well. I will be as quick and brief as possible.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: That is perfect. I will make sure to keep the questions as quick and easy as possible. Perhaps the answers could be as well, if that is okay. I missed some of the debate because I had to pop out for another meeting. Why does this State differ from other jurisdictions with regard to regulatory oversight? Why does responsibility for the national lottery remain with a regulatory body and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: Gabhaim buíochas as sin. I have a question arising from a question Deputy Tóibín asked in the previous session. I took a quick look at the audited financial statements of Premier Lotteries Ireland. It was a brief look so I am open to correction if I have got this wrong but, from what I can see, PLI paid no tax in 2019. It actually got a refund of €100,000. It paid...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Issues Related to the National Lottery: Discussion (15 Dec 2021)

Mairéad Farrell: I thank Ms Boate. It just seems unusual for a company that is profitable. I understand that this does not fall within the regulator's brief. We are under time pressure so I will move on. In respect of the distribution of funds to good causes, the regulator is concerned with proper administration. An issue that has been raised with me is that, under the model in England, an entirely...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: I thank the witnesses for coming in front of the committee today. I will start with questions on the personal injuries guidelines. We have had a number of sessions on insurance, and this feels slightly like Groundhog Day because I am teasing out the same kind of questions. It is important because we need to get everyone's view. The personal injuries guidelines came into effect on 24...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: If claims under a certain category have fallen by 40%, what does Mr. Curtin expect the percentage fall to be in terms of the costs even on a euro-to-euro basis? When people hear that costs have fallen by 40%, they expect to see something quite significant in their own costs. Could Mr. Curtin tease that out?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: Will the national information claims database be able to monitor whether the savings companies make as a result of the personal injuries guidelines have been passed on to customers euro for euro? Mr. Curtin may be aware of the Judicial Council (Amendment) Bill, which would have required insurers to provide audited reports to the Central Bank detailing whether these reduced claims costs have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: The next topic springs out of what was discussed in the previous session by Ms Sheridan. We could all say that we would have been very much impacted by her real-life story. It concerns the topic of insurance fraud. The insurance industry has repeatedly claimed that 20% of all claims are fraudulent with Insurance Ireland and Allianz claiming that insurance fraud costs the industry...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: My figures would suggest that it is 0.003%. What is the percentage according to Insurance Ireland? Surely if it is such a big issue, Insurance Ireland is aware of the percentage of claims that are fraudulent. For 2019, we have the figure of 0.003%. What is Insurance Ireland's figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: Ms Murdock might furnish the committee with that after the meeting. That would be fine. We do that regularly at this committee. The figures I am seeking are for 2019. If Ms Murdock could furnish us with those figures after the meeting, it would be great.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: It would be great if Ms Murdock would provide that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: That is absolutely so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: I was going to ask a second question relating to what Ms Sheridan was talking about. Her story during the previous session stood out to me. I am not talking about Ms Sheridan's case at all. I do not mean it that way. I just mean it was a fine example in the broader sense.