Results 1,421-1,440 of 6,295 for speaker:Michael D'Arcy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: There is a delay in the legislation so it is not on target, but we hope to have the legislation published before the end of this session so we might slip into the next quarter or quarter 4. There is a bit of delay in respect of that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: That is happening in parallel-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: I have spoken to the Minister for Justice and Equality about this. It is really a matter for An Garda Síochána. Do we want to take resources away from the job gardaí do, namely, fighting crime and being out on the beat, so that the can be specifically involved in insurance fraud? It is a recommendation within the reports. Neither the Minister for Justice and Equality nor I...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: May I outline a few things? The often quoted figure is an increase of 57% in insurance from the low point. That low point was the result of what was effectively a price war. Price wars tend not to work out well. Eventually, somebody ends up paying more down the line because there has been an undercutting of business to try to achieve higher market gain. Some motor insurance policies cost...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: People have to shop around. I have spoken to just about everybody and every sector regarding insurance, including motor insurance. The story I use best concerns a man who rang on behalf of his son. He was 31 years of age and using an eight year old car. His insurance went up by €150. I told him to shop around so he went to his broker who told him that this was the best the broker...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Please, do not make a statement like that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: The Senator said that I do not understand the gravity of the situation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Do not be concerned.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Do not be concerned. I do understand the gravity of the situation so the Senator should not make a statement like that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: There is no role for the State because if the State intervenes, the same rules and regulations under which the private insurance companies are governed and the same awards that are awarded by the courts will apply to a State company. If the State enters the market to do so, the same regulations and the same Solvency II rules will apply. On each occasion where there is an outlying award...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: No.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Which investigations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: I will not comment on that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: The establishment will depend on the Oireachtas.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: Yes, it would be.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: I am hopeful it will be sooner rather than later. There will not be any delay from our side of the House.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: That is a question the Garda Commissioner will have to answer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: What I have been told is that not everybody is in agreement with the removal of gardaí from policing duties to be deployed to an anti-fraud unit.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Michael D'Arcy: People have said it to me in private, but I do not know if they have said it in public. That is the information I have.