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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Mr. Carty is representing brokers, he has an underwriting facility and has his own Insure4Less company.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: He has come before the committee to make a point about the High Court awards and has given two examples, which he has presented colourfully here. However, hard data are being given to him stating that the argument being made for the industry and his own argument do not hold up at all. I need to get to the bottom of this. Does Mr. Carty believe in the High Court data in respect of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes, personal cases.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: The job of this committee is to consider the official court data in the whole, instead of the individual personal story that an industry might wish to put out that could help to skew the impression of what is happening when the question is considered as a whole. Ms Dowling makes a point about the book of quantum and suggests it should not be done by the consultants but should be taken from...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: I understand the Judiciary and the Central Bank will become more involved in this regard. I questioned the Injuries Board yesterday on whether legislation should be brought in that would ensure the Judiciary was obliged to pay more regard to it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: No, I understand.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Before I call on Ms O'Callaghan am I right in saying Ms Dowling is arguing for a different approach? The book of quantum-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: I understand that. However, the book of quantum is only based on what was paid out on these claims over the last period.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes, historically.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes. So the witness is basically saying to scrap that idea of what we paid out in the past and look at what we should be paying out in the future based on the maximum going down, which would actually bring some of the soft tissue injuries down to an appropriate level.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes, that is fair enough.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: That is something with which I agree. I have written personally to the CSO to ask it to consider taking that over under its new work programme. I wish to ask questions on two final areas. They relate to the submission by the MIAB. There is so much in it and so many recommendations. That is very helpful for us. Ms Dowling mentioned that there are sections of the PIAB and the civil...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Is that a silver bullet? Is that a case of-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: -----one of the silver bullets actually commencing a piece of legislation that we already voted on many years ago?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Are these ministerial orders? Are they ministerial orders that are needed to authorise the section of the Act that has already passed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Okay. I would like to come back to the purpose of this and what people want, which are solutions. They also want to figure out what is going on here and why it has gone on. Ms Dowling mentioned an area at which I have been looking. If the cause of this is Solvency II, the insurance industry should just say it, apologise, get on with it and stop all this pretence that it is about something...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Do the brokers have a view on the reason for the 70% increase? I have given a view in terms of what I have learned so far.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: Yes. The potential to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Pearse Doherty: I know. If it could be at that level, they have to provide for that.

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