Results 11,701-11,720 of 26,032 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If the book of quantum is reformed to international norms, will that be the game changer that means insurance is available at a reasonable rate from a number of competitors? There are myriad aspects to this and our guests are saying it is not one thing or another.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: I accept that, but we want to do something positive.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: I put the same question to Ms Murray.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: We will work to bring reforms to the book of quantum as quickly as possible.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: There is a perception out there that, up to a couple of years ago, insurance companies were going head to head in a competitive market. Instead, they were underpricing and not making proper provisions. We then got to a point where the wheels came off the industry's wagon and rates increased. We have been asked to put a direct question to the insurance companies. They are now beginning to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: The Judicial Council Bill 2017 is before the Oireachtas. If the book of quantum is revised on the basis of international benchmarks for claim payouts, will premiums drop?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will they drop proportionately?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If I am paying €1,000 per year for motor insurance and claims drop overall by 50%, is Mr. McMahon telling me that my motor insurance will decrease to €500?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: How will the insurers do that? Will it be based on overall claims across a range of areas or just on motor insurance claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will it be based on claims across all business areas?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: I presume that FBD's largest number of claims are on car insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: What is the proportion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: To what value do those proportions equate? Some 50% of injury claims are on motor insurance, but what percentage of the actual payout on claims relates to motor insurance? Is there a correlation? Do the percentages that Mr. McMahon provided relate to the number of claims or their value?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: What is the ratio in terms of the number of claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Are the personal injuries in motor insurance claims of a common variety, for example, whiplash? What is the percentage? Are the bulk of claims at the lower end? Mr. McMahon probably heard our discussion this morning and knows that the Court of Appeal is dealing with the upper end of serious injury claims. Are the bulk of payouts in routine areas?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: If we see a situation whereby-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: That is what we need to find out. From the committee's discussion this morning, I believe that the minimum payout for whiplash is €21,000. I am going by memory. Maybe the Chairman will correct me, but I believe that was the figure. If it decreases to €10,000 and FBD sees a 50% reduction in payouts under the book of quantum across a range of areas, will I see a 50% reduction...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Will Mr. McMahon give that commitment publicly?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Is Mr. McMahon willing to say now that there is a direct correlation between the premiums that insurers charge and, under headings, insurance claims?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)
Kieran O'Donnell: Has FBD made submissions to the Department of Finance, the Department of Justice and Equality and various Ministers regarding the terms of reference for drawing up a new book of quantum by the proposed judicial council?