Results 701-720 of 4,002 for speaker:Rose Conway Walsh
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: It is important to point that out because we are being lulled into a sense that something is happening and that things are moving, with these reports having brought about the impact we had sought.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: That is the problem. Did Mr. Coghlan wish to come in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: We started off looking at insurance because we had suspicions that a cartel was in operation and that things were going on in the insurance industry that were putting huge premiums on people and that they were basically robbing people. It returns to Ms Murray's comments and what Ms Dorothea Dowling has been saying about the black hole and the amount of claims versus what is taken in. She...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: I am aware of situations in Mayo as well. I was first contacted by a pet farm, which was getting its insurance cover from the UK, and the letter came in the post stating: "We are no longer going to insure you. Goodbye". It has no insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: I ask Ms Murray to comment on what happened earlier this week in terms of IPB Insurance and the court case. She will be familiar with that. IPB Insurance issued High Court proceedings and it wanted them to be held in secret. That sounds very strange.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: I am really glad to see the representatives from FBD insurance here today. I thank Mr. McMahon for his opening statement. It is extremely useful to have the witnesses here to answer some of the questions we have. I have a number of questions, the first of which is how much did FBD pay out last year on claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: How much did FBD take in from premiums?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: So that is a fair profit. Profits were up 41%. Is that right?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: They are up 41%. At another meeting of this committee last year Mr. Cahalan said "Just follow the money" in the context of another reason for increased premiums. In light of that massive profit increase, will it be reflected in the cost of premiums for FBD's customers now?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Is it Mr. Cahalan's view that when people see those profits they could reasonably expect a drastic decrease in premiums? This could be applied to any company.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: We really have to get to the crux of this. We are running out of patience on this issue. We need insurance prices to come down. We have talked about this for the last three years. The witnesses are from the insurance company that happens to be here. I am really running out of patience with all of this. We need emergency legislation. The witnesses are telling us what we need to do and we...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: It is a very profitable business and we just want fairness for citizens. I am sure the witnesses would share that idea of fairness and transparency for customers as well.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Okay. We can go on to risk management practices. The witness has stated that risk management practices were to be put in place and this would reduce premiums. Risk management practices are now in place and have been in most of the marts for the past two years. When will marts see the decreases reflected in those actions taken in risk management?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Have claims decreased in marts over the past two years because of risk management measures that have been implemented?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: How much have they gone down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: So FBD has a monopoly on mart insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Right. One mart manager tried to gather information on premiums, costs and claims, and that person said every roadblock was put in place to prevent that happening. When she organised a meeting with all the marts, the representatives would not go.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: Yes. That was three days beforehand.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Rose Conway Walsh: The witnesses will not meet with mart managers so it is just the representative bodies.