Results 11,201-11,220 of 26,021 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Prudence is not an excuse for overcharging.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: I want to turn to Mr. O'Leary. What powers does the CCPC have? I am more interested in the CCPC coming to a decision around the whole area of price signalling. What real powers does the CCPC have?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Are CCPC decisions legally binding?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: If the CCPC takes an insurance firm to court, what are the size of the fines?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: There are no fines at all.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: If the CCPC finds against insurance companies and says they are price signalling, there is a slap on the wrist.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: I would.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Mr. O'Leary would not disagree. How does a case go from being price signalling to a cartel inquiry?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Let me paint a hypothetical picture. People meet in a back room and agree a pricing structure. They go out the following day and one of them puts something into the media and they price signal. What is the difference?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: It is about the substance of what they have done. If I work for an insurance company, and I am in a darkened room and I make phone calls and agree a price, and then the following day I issue a statement and I price signal, can I go from a mortal sin to a misdemeanour by putting out a press statement that is price signalling?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Mr. O'Leary is missing my point. If that manifests itself by someone issuing a press statement and price signalling, as far as I am concerned, in substance, they are the same thing. There is a danger. To put it this way, if I can turn a criminal offence into a civil offence, I am a much happier person, so I might mask a cartel as being price signalling. How can the CCPC differentiate...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: There is a big difference.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: If the commission has powers under the civil law, that would be fine but it appears that it has no powers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Not in substance. People need to understand that this is not personal. We have a job to do here and must ask these questions. In essence, the CCPC cannot issue a fine, although it can issue a commitment. It can take insurance companies to court but, ultimately, there are no sanctions in court so it is a Pyrrhic victory. When the CCPC looks at this price signalling issue, does it also...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Is any element of that process under way in terms of the CCPC's findings to date?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Were the Houses of the Oireachtas to bring in legislation now that permitted fines and strengthened the powers of the CCPC, could that be applied to the CCPC's findings? What years is the CCPC looking at?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: To when?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Were the Houses of the Oireachtas to bring in legislation to strengthen powers to fine and the powers of the CCPC in terms of reprimanding, could they be applied to the CCPC's findings in the new year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: In respect of a point previously put to Mr. Hassett, does he believe a cartel is in place in the insurance industry?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Kieran O'Donnell: Insurance Ireland keeps quoting figures. Can it give a breakdown? When it is quoting the increase in the awards, is Insurance Ireland including the expected as well? Is Insurance Ireland looking at incurred figures?