Results 5,421-5,440 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: For some reason, the insurance companies are reluctant to go down that route. One can forget regulation and everything else, it is simple, good business practice and a case of keeping one's customer onside, and informing the market. Many people who take out insurance policies of one kind or another are not fully aware of the fact that in the three cases Mr. McMahon gave us, the legal costs...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: There might not always be an intermediary, and even if there is, that does not explain the situation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Let me put it this way; if I go to my broker with whom I have done business for years and I have no claims, my taxi insurance is €6,000 but this year it is increased to €12,000 so I ask my broker what happened. I am a good customer who goes to him every year and I have not gone to any other insurance company. I want to know the reason my premium has increased by €6,000....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: No, the companies have not, because the taxi driver who came to me was not told the reason his premium went up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I know Mr. McGrath cannot.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Mr. McGrath and all the witnesses have been very helpful this morning but the two key pieces that keep coming back to us is information on how a claim was settled. Surely customers are entitled to that. They are also entitled to information on why their premium has increased. If a premium goes up by a significant amount, surely people are entitled to know the reason. It may be that the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Does Allianz write to them and say their premium has increased by €6,000 because it was necessary to put it up by that much or is it done verbally? Could the witnesses not write to their customers as they are asked for an increased premium to explain the reason for it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Does the company explain the reason for the increased premium?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: But there is one-to-one interaction.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Do Mr. Bradley and Mr. McGrath do the same thing in terms of interacting with the brokers and when directly engaging with customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Is the information passed freely to the broker and the customer?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Could an explanation not be included as part of the proper way of doing business?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: That is not true. We invited the industry and we were able to accommodate this meeting today. It is not fair to say the others refused to attend. It was because we could not find a suitable time and date. As can be seen from this morning’s meeting, it takes a considerable length of time to talk to the three companies with us. We will get to the others on a different date.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: We can send out a message to them that we are having this review and that they are more than welcome to come forward or send a representative to explain how it is all happening in the courts. That might be helpful to the process as well.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: This would ensure we do not have any Chinese walls or lack of information from the centre. Likewise, with the legal profession, as Ms Muldoon said, it is responsible for 40% of all awards made. From this meeting, we can extend that invitation to the Judiciary or its representatives. We can certainly send it to members of the legal profession. If they want to respond, they are more than...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Is it €2 out of every €100?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: That question was asked earlier.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Senator Horkan.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: So there are no further questions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I am sorry.