Results 11,301-11,320 of 26,512 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: I am conscious we have to start the next session at 3.45 p.m. so we will finish at 3.30 p.m., if that is agreed. Are there other questions members want to ask?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: Please continue.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: The Society of Actuaries in Ireland told the committee yesterday that it had approached numerous insurers to request data that would enable it to carry out data analysis. The insurers said they were willing to provide the information yet legal advice they received suggested there could be competitive issues around that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: The fact of the matter is that the data that would inform those who might come into the market is not being made available. It is being withheld. One can only get the data if one pays a particular fee to be an associate member or member of Insurance Ireland. Surely that is the formation of a club, or dare I say it, cartel-like activity which holds the information at the centre and holds...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: No, it is not. That is the point.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: If one makes a distinction between proprietary and pay to access and so on, I will make a distinction along the lines of the questions asked by Deputy Sherlock. In the public interest, it would appear that if this information was made available to the industry, we might have greater competition in the market. Therefore, it is a case of the country coming first. The information is necessary...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: We thank the witnesses for their contribution.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: We are now joined by Mr. Kevin Thompson and Mr. Michael Horan of Insurance Ireland. I draw their attention to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. If they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: Given that Mr. Thompson has been following the proceedings of the committee, it is interesting that he left it until the last paragraph of his submission before he mentioned the sharing of data. Can he comment on Insurance Ireland's databases? Will Insurance Ireland share its data? Most members want to know Mr. Thompson's thinking on those issues.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: What does Mr. Thompson say in response to the claim that has been made here that this information is not being shared widely or that it should be shared publicly?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: What information does Mr. Thompson have that is being withheld, as was stated here by a number of witnesses, that might influence another company's view of the market or that would inform a company that wanted to come into the market?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: Is there data that Insurance Ireland does not publish?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: No. Is there data that Insurance Ireland does not publish?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: That is not answering the question. Does Insurance Ireland publish everything that would be required to inform those who have to be informed of the conditions in the marketplace in Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: What would Mr. Thompson say to all the witnesses who came before us here and said that he does not share his data? What would he say to the witness who appeared this morning to say that, as an associate member, he was paying a significant amount of money for data and was not sure whether he had access to all of the data? Mr. Thompson listened to the hearings. Will he address those specific...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: There have been complaints that Insurance Ireland does not share the data.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: That is not publicly, access is confined to the membership. It is a club.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: If one is an associate member, one pays €10,000. Who pays €100,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: Where is the misunderstanding about the €100,000 then? Mr. Thompson said this morning there was a misunderstanding.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)
John McGuinness: So to access all of the system, it is €110,000.