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Committee on Budgetary Oversight: Public Service Performance Report 2020: Discussion (20 May 2021)

Bernard Durkan: I am in the convention centre and have to leave to be in the Chamber for Oral Questions shortly. I have ten minutes, so I will ask all my questions in one go and have plenty of time for the answers. I am watching the monitor at the same time and if I have to leave, it will not be that I am being rude but I must go to the Dáil. The first issue I want to mention is performance...

Financial Resolution 2021 - Financial Resolution: Stamp Duties (19 May 2021)

Bernard Durkan: I am delighted to have an opportunity to speak on this issue. It is emotive and needs to be dealt with. I reject in their entirety the continuous allegations against Fine Gael and whoever else to the effect that we are all a bunch of hard right-wing opportunists and that we have no concern for the people. I remind everybody on all sides of the House that in the 1940s, 1950s, 1970s, 1980s...

Written Answers — Department of Housing, Planning, and Local Government: Housing Provision (19 May 2021)

Bernard Durkan: 129. To ask the Minister for Housing, Planning, and Local Government the expenditure in each of the past ten years to date specifically devoted to affordable house building where the purchaser has unimpeded access to the market without the intrusion and competition of investment funds; the number of families housed by the local authorities in the same period; the number of local authority...

Written Answers — Department of Justice and Equality: Immigration Status (19 May 2021)

Bernard Durkan: 175. To ask the Tánaiste and Minister for Justice and Equality if the permanent relationship between persons (details supplied) will be recognised as a basis for naturalisation in the case of one of the persons; and if she will make a statement on the matter. [26790/21]

Written Answers — Department of Justice and Equality: Citizenship Applications (19 May 2021)

Bernard Durkan: 176. To ask the Tánaiste and Minister for Justice and Equality if required documentation in the case of a person (details supplied) has now been received in her Department which was sent by tracked international post; the steps now being taken to progress the application; and if she will make a statement on the matter. [26795/21]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: I have a couple of short questions. I welcome the opportunity to have this exchange of views. I used to be my party's spokesman in this area once upon a time a long time ago. I must not have had too much of an effect, because we are still dealing with the same problems. Does Insurance Ireland regulate the level of risk that may be undertaken by the various insurance companies? I refer to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: Insurance Ireland does not preset standards or advise the insurance companies as to what they might do. I was wondering about that point, because if the activities of one or more of the insurance companies were of an overly risky nature, that might have an impact on the entire industry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: Has the insurance industry become involved during the past ten to 12 years in providing cover against loss in the financial services sector? I posed a question to the Minister some years ago because I was given information to the effect that several lenders had taken insurance cover against some risks. In fact, it was alleged at the time that those lenders were going to get paid by two...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: How many claims were paid out where negligence was suggested or where the insurance taken out was to cover various risks? A reply to a parliamentary question stated that some are covered in the high-risk category, but the Minister was not sure how many or what percentage were covered. That set off alarm bells because insurers would not have to cover too many. All they needed was to cover...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: Mr. O'Rourke should not be shy. This involves the entire insurance industry. He should be flamboyant on this, come right out and say it as it is. He can tell all to me; I will not tell anybody.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: It may well be the judicious one at the time but I am not so sure it was the correct one. My immediate suspicions were aroused as to what extent cover might be offered to people who are trading in a fashion not in accordance with the rules, and who may have been compensated and drew down the cover. I certainly would like to feel that Insurance Ireland was looking at these kinds of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: No, I am not talking about an illegal act at this stage; I am talking about what could later be determined as reckless trading. This means, as the fellow said, sailing close to the shore.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: I am aware that an illegal act would change the whole scene. In the event that the action was not determined to be an illegal act but it was a high-risk act - otherwise they would not be looking for cover in the particular situation - can Mr. O'Rourke give us any indication as to how those issues are greeted nowadays? Does the insurer come out to the front door to meet the person seeking...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: Who would?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: It is up to the insurance company to accept the proposal.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: How can an individual insurance company assess that kind of risk? Is it taken as granted? Do the companies ordinarily proceed with the cover or do they refer to anybody to examine it? Do insurers say to themselves, "I do not think this is a very good risk and we should not have it"? I pursued this issue ten years ago. I came to the conclusion that there could have been a serious amount...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: Okay, we are running out of time. I will give the other question now too. The problem with putting two or three questions in together, it is the easiest one that gets the reply. However, I will hold the other one for the moment because this will only take a short time. The other one will take even less time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: I will ask my last question. It is a question I asked insurance companies some years ago. Many small business people and private citizens have a number of vehicles for which they require insurance cover. Some families may have up to 20 vehicles depending on the size of the family. I inquired as to whether fleet insurance was available. Immediately, the insurance companies threw up their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: I thank Mr. O'Rourke. I thank the Chairman. I will be a good boy now.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

Bernard Durkan: I said I would be a good boy and I apologise in advanced. I asked whether insurance companies covered any financial investment risks and so on. I forgot to ask whether they invest in funds that may require rescuing at a later stage.

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