Results 10,221-10,240 of 10,460 for speaker:Gerry Horkan

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

Gerry Horkan: Should the commission have that power?

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

Gerry Horkan: Many people may neglect this issue and I accept 70% of them are not switching. At the same time, this cost is a very big figure if it is a one-off payment, and even if people are paying by direct debit, it is still an initial bill which hits once a year. People really do not know why €390 has become €520. If a person had entered a different age bracket, moved house, changed...

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

Gerry Horkan: I thank the Chairman. Even though his role is in consumer protection, Mr. O'Leary feels the Central Bank has a role in protecting the consumer or that it is better placed to do that particular task.

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

Gerry Horkan: I had deliberately stopped because I thought we were about to finish.

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

Gerry Horkan: In terms of refusal to quote and the indication that an insurer can suddenly pull out of a particular market, whether it be a rural market, an over-70s market or an under-25s market, what role, if any, does the commission play in saying "You must..." or "You have to..."? Is it anything to do with the commission? In terms of consumer protection, what if a chunk of the population is being...

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

Gerry Horkan: I thank Mr. O'Leary.

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

Gerry Horkan: I do not wish to get overly bogged down in the inner workings and revenue streams of Insurance Ireland but it is relevant to much of what we have been discussing. This is our fifth day of hearings and the witnesses have probably sat through almost as much of it as we have. The industry is not regarded kindly by many of the people who were in here. We are here trying to represent the...

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

Gerry Horkan: A total of 17 staff. What are the revenues from the various activities? I presume it is public information. Is it millions or billions?

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

Gerry Horkan: So Insurance Ireland spends €4 million from its members between membership fees and charges for the various databases and then the money is spent running the organisation.

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

Gerry Horkan: Are all the motor insurance databases in the country that exist or that co-ordinate data run through Insurance Ireland? I refer to the information on penalty points. Please forgive me but I would have thought there was some Garda database of penalty points where the penalty points are recorded by the Garda and presumably by the GoSafe cameras and it goes into a State database to which the...

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

Gerry Horkan: I have no problem at all with Deputy Sherlock’s intervention. Almost every commentator talked about the lack of clear data, the lack of explanation and the lack of visibility in terms of what is going on in the motor insurance sector. We can see the personal injuries information in the Injuries Board and we can see what is going through the courts system. That is only 30% of the...

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

Gerry Horkan: Where?

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

Gerry Horkan: Can they work out from those statistics whether the motor insurance industry is profitable or loss making? I know we saw the figures that said insurance companies generally are losing €20 to €30 per €100 of premium paid. That statistic was quoted to us earlier in the hearings but I have not had an opportunity to study the statistics. It appears to me that many of the...

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

Gerry Horkan: I did not say that.

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

Gerry Horkan: Neither of those figures is anywhere close to 70%.

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

Gerry Horkan: What are the barriers to delivering that because we had Conor Faughnan in last week telling us that the ANPR recognition system that was installed in all the Garda vehicles is virtually useless because one in four hits they were getting for a car that was neither taxed nor insured was producing data that was not correct. For example, the Garda got a flag of a vehicle that was not insured and...

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

Gerry Horkan: Is the data it is getting inaccurate?

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

Gerry Horkan: Is it not a real-time database that is constantly updated or is there a backlog of a month or a week's processing?

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

Gerry Horkan: Some 25% of their hits were inaccurate. One in four of us is not switching on a daily basis.

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

Gerry Horkan: They have had more than one claim.