Results 11,561-11,580 of 35,639 for speaker:Pearse Doherty

Written Answers — Department of Finance: Credit Unions (13 Nov 2019)

Pearse Doherty: 57. To ask the Minister for Finance the way in which the industrial funding levy on credit unions will be applied in the coming years; if he will consider exempting credit unions from the levy in view of their social impact; and if he will make a statement on the matter. [46689/19]

Written Answers — Department of Finance: NAMA Operations (13 Nov 2019)

Pearse Doherty: 67. To ask the Minister for Finance the expected NAMA surplus to be transferred to the Exchequer in 2020; the way in which it will be utilised; and if he will make a statement on the matter. [46688/19]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I welcome our guests from the Central Bank of Ireland back to the committee. I know they were with us just last week so I appreciate them coming back again. I am delighted the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach has started our own process of having hearings on dual pricing. When I asked the committee to carry out this type of investigation on 24...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Of course.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: We might get to that because I want to find out exactly what the scope of this is. The Central Bank will investigate this in industry at large. Will it investigate its prevalence in the insurance market?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I understand that phase 1 will gather that data and phase 2 will look at the impact on customers. Will this include the impact on vulnerable customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Before I talk about the CCPC, will Ms Rowland clarify whether all options relating to phase 4 - what I would call the recommendations - are on the table, including the banning of dual pricing?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: The question I asked was if the option of banning dual pricing will be on the table if the analysis and evidence suggests it. Ms Rowland is saying that all options are on the table at this point.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I have sent my complaint to the CCPC also and I have met with the director of consumer protection there. There is a memorandum of understanding between the Central Bank and the CCPC where they can carry out joint work. Is this piece of work not a shining example of where the CCPC can assist the Central Bank in the investigation that the Central Bank is about to undertake on the effect the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Ms Rowland referred to the FCA, which found very clearly that dual pricing was affecting vulnerable customers. Would that be correct in the-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I appreciate that. My time is limited but I will read a part of the FCA-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: -----report for Ms Rowland. It states: 1 in 3 consumers in our consumer research who paid high prices showed at least one characteristic of vulnerability, such as having low financial resilience or capability. For consumers who bought combined contents and building insurance, lower income consumers (below £30,000) pay higher margins than those with higher incomes. This is one of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: One of the active considerations and proposals, among others, from the FCA is banning dual pricing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: One of the active considerations from the FCA is the banning of dual pricing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I appreciate that Ms Rowland has a lot to say but my time is limited so I will-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Let me go through this quickly. I ask Ms Rowland to be as brief as possible. Does she agree with the statement in the White Paper on the task force in 2015 in the US, which said that two insurance customers with the same risk profile should be charged the same premium for the same coverage? That task force led to the banning of dual pricing in at least 17 states in the hotbed of capitalism...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Does she believe in that statement? I do not want to push her but I need-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: I am not asking Ms Rowland about the legislation. I am asking her whether she believes in that statement. Does she believe in that principle? I just want to figure out from where she is coming.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: Forget about legislation, I just want to know whether, in principle, Ms Rowland believes in the statement that two insurance customers having the same risk profile should be charged the same premium for the same coverage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (12 Nov 2019)

Pearse Doherty: That is fine. Ms Rowland said that the consumer protection code of 2012 is central to the Central Bank's conduct of business mandate. We know that firms must fully disclose all relevant information, including charges, in a way that seeks to inform their customers and act fairly in the interests of customers. I gave Ms Rowland two examples earlier. One involved Ray who had a renewal...