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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)

Rose Conway Walsh: It is important to have raw data and not interpretations of them. That may be where fears arise in this regard. While members know the amount paid by the Injuries Board and the courts for whiplash, for example, they have no idea how much is paid in the out-of-court settlements.

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

Rose Conway Walsh: Insurance Ireland will give it to the Central Bank as and when.

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

Rose Conway Walsh: I wish to refer to the book of quantum because Insurance Ireland called for it-----

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

Rose Conway Walsh: I believe it is astonishing that that information has not been shared before now. There were probably 13 different bodies in here before Insurance Ireland. Consistency is a word that the witnesses said was very important in the insurance industry. Consistently, those bodies have told us that the information they need is not being provided and is being kept hidden from them. It is for...

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

Rose Conway Walsh: I just want to knock on the head the idea that the book of quantum is internationally benchmarked as well as the whole cash-for-care model. We cannot compare different countries in terms of the costs of medical expenses. Therefore, how can it be benchmarked? Should we ignore the fact that British health care is free? Our Constitution will not allow a cash for care model in any case. Will...

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

Rose Conway Walsh: Could Insurance Ireland use the evidence from the UK to say it has not worked? In one sense, it is a red herring to lead us down another route. Constitutionally, it will be impossible.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: I thank the witnesses for their presentations. For the last two weeks, we have been putting all the pieces together and as such it is very interesting to hear the different perspectives. We have proposed that the CSO take on the role of providing an independent voice in regularly publishing data on the industry. Does the Society of Actuaries in Ireland feel that it is better placed to do...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Has the society stressed to Insurance Ireland the importance of making the data available in order that it can be analysed properly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Did they say why it had not been done to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Is there any competitive impediment to the gathering of the data?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: From the information the board has, is there any monetary advantage to using a solicitor when dealing with such cases?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: When the board is making an assessment, does it take into consideration the high medical costs in this country as opposed to others?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Is there an actuarial rationale for the non-recognition of no-claims bonuses for people returning from other countries?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: There is no actuarial reason for it. With regard to the witness's multinational experience with Zurich, it should be easy for any insurance company to access information on whether somebody's no-claims bonus is bona fide.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: I thank the witnesses for their presentations. We had already heard much of what was said in the past week from other contributors, but there are some very useful things in there. I will start with hedge cutting. If any members or witnesses have travelled the R312 from Mayo, they certainly know about the dangers of not having hedges cut, particularly in the context of high vehicles and the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: Okay, but it is important to raise it while the witnesses are present. I thank Ms Murphy. I am alarmed about the three main insurers that Mr. Herron mentioned. Coming from a rural community, I identify with the rural transport initiative. If taxi drivers are unable to get insurance, it is a major problem. There is no point in introducing a rural transport initiative that allows for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: Taxis were never more needed in rural areas for hospital appointments and accessing other vital services. Heretofore, the HSE or other agencies had some kind of a transport system in place. They no longer do, making the taxi even more important.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: The committee should include this issue in our rural proofing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: That is something that I had not considered. Of the airports that Mr. Redmond has cited, Ireland West Airport Knock is obviously the most important.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: It is more important to those of us in the west. Mr. Redmond referred to the Wild Atlantic Way.

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