Results 13,341-13,360 of 36,748 for speaker:Pearse Doherty
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: Yes, I understand that. We already dealt with it in the context of section 6. It is already provided for. It amounts to a little repetition but that is no harm. The issue is that there is a fundamental change for a consumer entering into an insurance contract. Under the Bill as drafted, before the consumer is bound by the contract there will be a requirement on the insurer to provide the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: That takes me to the point. There is a substantive change. I will engage with experts to ensure that the provisions from different directives are captured within the existing amendment.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: The way section 8 is drafted represents an opportunity for us as committee members and as Members of the Oireachtas to look at issues that were in the report of the committee on the cost of motor insurance. For example, section 8 refers to what the insurance company would have to inform a customer about in respect of the amount of premium or the method of calculating it. This is a major...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: When a consumer gets a motor renewal quote, it is based on the risk but I am sure insurance company officials are looking at a screen with information on what the policyholder was insured with last year.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: The companies do not have to provide the premium that the customer paid last year.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: If the premium increases, the companies do not have to provide a reason as to why that is the case.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: We could be in the same situation again. In a period of three or four years, there were increases of 70%. Insurance industry representatives simply told us whatever they wanted to tell us. There is no requirement on insurance companies to provide information. Insurance industry representatives will tell us that there will be a cost. They will state that anything we do to regulate the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: I move amendment No. 29: In page 9, line 5, after “insurance” to insert the following: “along with a schedule showing the premiums paid, claims paid out and other statistical data related to the record of the policyholder for the past five years where applicable”. This relates to the previous discussion we had. This amendment would insert an obligation on...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: That is fine.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: That is okay.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: Will that be three years for claims and one year for premiums?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: That is helpful. If documentation is provided for several years, people will be able to do the calculations. I thank the Minister of State.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: I move amendment No. 30: In page 9, between lines 35 and 36, to insert the following: “(6) The Central Bank shall report on the addition of public liability insurance to the Non-Life Insurance (Provision of Information) (Renewal of Policy of Insurance) (Amendment) Regulations 2018 within one month of the passing of this Act.”. This amendment is intended to allow...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: Yes, it is not being collected. The national insurance claims database only has information on motor insurance at this point.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: My amendment is about ensuring timely progress is made on the inclusion in the national claims information database of public liability and employer's liability insurance. It provides for the production of a report. As I stated, my intention is not to have this in the legislation but to raise the issue and stress the urgency of achieving progress on this matter. We need transparency in...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: That is fine.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: I withdraw my amendment on that basis.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: I will agree to the deletion with the caveat that I want to ensure everything is covered as agreed and I will reserve the right to look at this again on Report Stage.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)
Pearse Doherty: I have no issue with deleting section 11(2). This section is important because, as drafted, it will provide for a legal obligation on the insurance company to repay the consumer the balance of the premium for the expired period. The Minister of State's amendment is helpful because it will also require the company to explain why it cancelled the contract. As I said, section 11(2) relates to...