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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 the book of quantum updated in terms of awards made in a particular period?

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: It is a moving document.

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 fair comment.

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: When will the next de facto review of the book of quantum take place?

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: Does this allow adequate time for the review to be done by the judicial council and for whatever changes required under the Bill going through at present, which is on Report Stage, to be made?

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 the point.

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 level at the District Court? Is it €15,000?

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: Did Mr. Coghlan's insurance company pay out?

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: In that case, if Mr. Coghlan had told his insurance company that he wanted to go to the High Court would it have gone to the High Court?

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 reform of the book of quantum make that difference? What reform should occur? The Minister of State, Deputy D'Arcy, genuinely wants to get the book of quantum reformed. He was hounding us to make sure it would go before the Seanad. He has spoken to the Minister, Deputy Flanagan, and it will be on Report Stage. We will get it through as quickly as possible but it is not just about...

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 will be the benchmark for the quantum? It cannot be what has come from the courts in previous years because that would mean continuing higher rates. What will the terms of reference have to be for reviewing the book of quantum?

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: It is bell-shaped.

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: When the legislation is going through the Seanad, I will want to know what form the review of the book of quantum will have to take. Was there a recommendation from the committee for it to go to the judicial council? The terms of reference will be key. Will there be an international benchmark?

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 book of quantum has effectively been a review of what has gone through the Irish courts in previous years. The next book of quantum will have to be about benchmarking that to international norms.

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: People such as Ms Murray come to see us because they cannot get insurance or have to pay crazy rates. I met a man recently who is in the vehicle recovery business. His insurance has gone up threefold in the past three years. What does Mr. Monks believe is required so that Ms Murray and other playschools and crèches can get insurance at a reasonable cost? What could be the...

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 book of quantum is key.

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.

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