Results 3,581-3,600 of 5,098 for speaker:Mairéad Farrell

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.

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 referring to what Ms Sheridan said about consumers not having the opportunity to submit relevant evidence and that she was not informed of the settlement. It was that issue I was referring to. I could be wrong and am happy to be corrected but it is my understanding that under section 16(4) of the Consumer Insurance Contracts Act, sponsored by my colleague Deputy Pearse Doherty and...

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 did not mean to personalise the issue.

Finance Bill 2021: From the Seanad (15 Dec 2021)

Mairéad Farrell: I will speak to the three recommendations and I will keep it brief so that there will be lots of time for others. Recommendations Nos. 1 and 2 provide for the extension of the existing rates of the EWSS until the end of January 2022 in response to public health restrictions which will impact the footfall in and revenue of businesses in certain sectors in the coming months. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: Would anybody else like to answer the question? I would like to get specifics on it rather than talking around the question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: That does not really answer it. My question really is: if the claims under the category of awards have fallen by 40%, by how much can we expect the cost to have fallen? What would that be in nominal terms and on a euro for euro basis? We should expect premiums to have reduced by that amount solely as a result of the personal injury guidelines coming into effect. What percentage have the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: Will the national information claims database be able to monitor or show if the savings the RSA Group, AIG and FBD make as a result of the personal injury guidelines have been passed on to their customers euro for euro?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: I will move on to the RSA Group, AIG and FBD’s profits and Covid-19. We saw that during the majority of 2020 the economy and society were under stringent public health measures, there were fewer cars on the roads and businesses were closed. Traffic fell by 37% while the number of claims in motor insurance fell by 26% and the cost of claims per policy fell by 20%. However, the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: It was about profit margins in motor insurance for the years 2017 to 2020, inclusive.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: I want to move on to dual pricing as we are moving along in this session. Recommendation 1 of the cost of insurance working group was for insurers to set out reasons for large increases in premiums to consumers. It was agreed between Insurance Ireland and the Department of Finance in 2017. I note that none of the insurance companies' websites gives price walking or dual pricing as a reason...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: I will just ask a yes or no question on this. Can each witness confirm if their organisation practises dual pricing or price walking? Can they confirm if this involves identifying customers who are more likely to renew and charging them extra?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: I thank Ms Tobin. I would just like a yes or no answer on that question really.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: I am grateful for that clarity. My question is if the organisations charge renewing customers premiums that are higher than the technical premium. I would like a yes or no answer from everybody.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: Go raibh maith agat.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Engagement with Insurance Companies (15 Dec 2021)

Mairéad Farrell: Gabhaim buíochas leis na haíonna atá sásta labhairt linn. I thank the guests for appearing before the committee today. Many people had concerns over payments for personal injury claims and lost faith in the insurance industry as a result. The introduction of the personal injury guidelines on 24 April significantly reduced the cost of claims. As soon as the guidelines...

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

Mairéad Farrell: Ba mhaith liom buíochas a ghabháil le Mr. Algeo for appearing before the committee. This is something that is of great interest to many people. My first question relates to the probabilities of this happening. It is my understanding that with 47 balls an individual has a one in 10.7 million chance of winning. An average of 1.4 million tickets are sold per game. Therefore, there...

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

Mairéad Farrell: Does Mr. Algeo mean that it brings it down because of the unique aspect?