Results 1,201-1,220 of 34,585 for speaker:Seán Fleming

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021 [Seanad]: Second Stage (10 Nov 2021)

Seán Fleming: I move: "That the Bill be now read a Second Time."

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021 [Seanad]: Second Stage (10 Nov 2021)

Seán Fleming: I thank the Ceann Comhairle and I appreciate that. There is much heavy detail in this Bill. It is about ratification of a treaty between the Eurogroup members within the EU. It is not specifically an EU treaty or an agreement. It involves the Eurogroup within the EU. There is a treaty in place. When people read the legislation they will note it is very short but it contains very long...

Ceisteanna Eile - Other Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: I propose to take Questions Nos. 82 and 123 together. As the Deputy may be aware, in July the Government published the first implementation report of the action plan for insurance reform, which shows that work is progressing well, with 34 of the 66 actions contained therein completed. The sub-group’s focus now is on implementing the outstanding actions on time. One of the key...

Ceisteanna Eile - Other Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: I thank the Deputies for their comments and I want to give practical examples of what we are talking about. I met the Alliance for Insurance Reform last week and I hope to meet it again next month and the month after. It has indicated a number of pinch points where some groups are having difficulty getting insurance and that is a particular problem. The survey it referred to only included...

Ceisteanna Eile - Other Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: Absolutely. We will have an outstanding level of transparency about these issues. The first thing that I should say every time I talk about insurance, especially about home and motor insurance, is that we know about the loyalty penalty for the motor insurance industry. Many people who have a policy for more than ten years are paying 10% or 15% more than they should be. We will make...

Ceisteanna Eile - Other Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: The most common claims being dealt with by the new guidelines were for soft tissue injuries, whiplash etc. They did not deal with catastrophic injuries. People who have lifelong catastrophic injuries need all the funding they can get. I should have said earlier that the Minister for Justice gave a commitment today, when guidelines were announced, to prepare a report at the end of this...

Ceisteanna Eile - Other Questions: Credit Unions (9 Nov 2021)

Seán Fleming: The programme for Government includes a number of commitments to the credit union sector. I intend to shortly issue proposals emanating from the review of the policy framework for consultation. This will involve meeting with representative bodies and other stakeholders, a commitment I made in my recent engagements. In total, I have had 23 meetings with credit union stakeholders this year,...

Ceisteanna Eile - Other Questions: Credit Unions (9 Nov 2021)

Seán Fleming: First, the policy review referred to in the programme for Government is at an advanced stage. In the coming weeks, we will have a clear timeline for that process, but it is imminent. Second, growing the credit union movement, as referenced in the programme for Government, is essentially about growing the credit unions' loan book. They have adequate deposits and savings. They do not...

Ceisteanna Eile - Other Questions: Credit Unions (9 Nov 2021)

Seán Fleming: I look forward to briefing the Deputy, as well as the opportunity to brief the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, on developments as we progress. A total of 19 credit unions were approved in early 2021 for participation in the Covid-19 credit guarantee scheme. The Government has provided substantial funding for retrofitting. There will have to be some...

Ceisteanna Eile - Other Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: The NCID contains information on the cost of non-life insurance claims. Life insurance is not part of my brief for this particular purpose. The Central Bank of Ireland is responsible for collecting this information, as well as for managing the NCID under the Central Bank Act 2018. It can allow the scope of the NCID report to evolve in line with requirements. The Central Bank has already...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: It has been a number of months since the guidelines were introduced. I want to put it on the public record that there has been a decline in the cost of motor insurance premiums, as per the figures produced on an ongoing basis by the Central Statistics Office, CSO. The cost of insurance has reduced by at least 20% in recent years and that has continued right up to the present quarter. The...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: I want to take this opportunity to inform the Deputy that the Department of Finance sought agreement last week from the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach that it engage in pre-legislative scrutiny of the insurance (miscellaneous provisions) Bill 2021. Tomorrow, I will ask the committee, of which the Deputy is a member, to set an early timescale for...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: Through the Chair, I have not misled the Dáil.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: I have not misled the Dáil.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: There is a request to the committee for pre-legislative scrutiny, to which it has agreed. I am asking the Deputy and his colleagues on the committee to give the matter their urgent attention in order that we can deal with it promptly. The duty of care legislation will be going through the justice committee, not the finance committee. The particular legislation to which I referred is being...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Seán Fleming: The adoption of the new personal injury guidelines by the Judicial Council and their subsequent commencement in April this year is a significant achievement. It was achieved eight months ahead of the schedule as originally intended. The new guidelines should provide much greater transparency around award levels, in addition to reducing payouts for many common injuries and...

National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019: Motion (9 Nov 2021)

Seán Fleming: I have listened with interest to the contributions of Deputies to the debate on this motion. I will respond to some of the points and issues raised. First, I acknowledge that every person who spoke was supportive of the motion not to make the contribution to the rainy day fund, in view of the costs involved with Covid-19 and because there are other priorities at this particular point in...

National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019: Motion (9 Nov 2021)

Seán Fleming: I move: That Dáil Éireann authorises the Minister for Finance, pursuant to section 6(1) of the National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019 (the ‘Act’), not to pay the prescribed amount (€500,000,000) under section 5(2) of the Act into the National Surplus (Exceptional Contingencies) Reserve Fund for the year 2021 having regard to the...