Results 5,661-5,680 of 26,711 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Does Mr. Bradley or Ms Muldoon wish to comment?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: An issue that has come across through all the hearings is the lack of or limited information on this. The suggestion made by Senators Paddy Burke and Lawlor relates to information. It may not lower the cost of the premium but it would inform the customer. I am on the same line as Senator Burke on this. If the customer wants to be made aware of the details of a settlement in any case,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: No, I am asking Mr. McGrath on the basis of Allianz, as a business, dealing with its customers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: It was raised here today and I am asking the witnesses to address it or tell me why they will not. Will the witnesses undertake to examine the issue or tell me why not? Will the witnesses undertake to give information to customers relative to a claim if they ask for it? What is wrong with that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I understand that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: If someone came in to me and said they were charged too much for sweets, I would have to explain the reason for the cost. If one is selling a suit, insurance or a stick of furniture, one would have to explain the reason one is charging double the price of others or whatever it might be.
- 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.