Results 13,561-13,580 of 26,037 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: It zones in on events that are expected to take place once in 100 years.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: This is the key metric which is used.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Yes, that is the point I am trying to-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: I will cut to the chase regarding the question I am asking. Is there a route, parallel or otherwise, through the new CFRAM study that is coming out? A draft version of it has been made available to people. Individuals in my local area in Limerick city have looked at the CFRAMS and found that changes to the old maps have been made in the new maps. What I am saying is that it is a living...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Does it present an opportunity to put manners on the insurance industry and to ensure people who may be affected by events that are expected to take place once in 100 years, according to the CFRAM study, would have to receive insurance quotes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: I am basing my remarks purely on the new CFRAM study which is due to be published very shortly.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Beware of Greeks bearing gifts.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: I welcome the witness. Are there certain companies in the house insurance market that have the majority share of that market? Are there two or three companies that have 50% or 60% of the market?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: How many main players are in the market?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Chairman, I wish to make a suggestion, and I mean no disrespect to Mr. Thompson. The individual insurance companies appear to make their own executive risk decisions. We need to get under the floorboards and find out exactly what they are doing. The committee should make a suggestion to bring in a number of the larger companies and see exactly what they do. I can only speak from my own...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: I think it would be fair speculation. There is 83% coverage, but I suspect that when one looks under the floorboards at that 17%, there is probably 100% non-coverage in a few defined areas. The question I am getting at is this. How many of the people who made an insurance claim after Storm Ophelia will be re-insured by the insurance companies? How many will not be re-insured?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: We have had cases where people are flooded and they claim on their insurance. There are schemes that are run through the Red Cross, the local authorities and the Department of Employment Affairs and Social Protection. However, they can only claim on those once they have first claimed on their insurance. They could be waiting for months. Many of those people, once they claim on their...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: No, Mr. Thompson has missed-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Just go directly because I am caught for time.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: No-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: It is more subtle than that. If a person's renewal date is 1 January 2018, and a claim was made because of Storm Ophelia in October, when that person comes to renew in January the policy will not be renewed or the premium will be crazy. I want to distil this down. In the main, the 17% not covered are on flood plains or areas exposed to flooding. The question is what can we do in terms of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: I would expect nothing less.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: We wish him well.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: Correct.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of the Flood Insurance Bill 2016 (23 Nov 2017)
Kieran O'Donnell: He is in the right place.