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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: The book of quantum is a set of rules by which the PIAB assesses compensation awards.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Am I correct that it does not have a legal standing with the courts?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Does Mr. Faughnan believe the book of quantum is fit for purpose?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Who bears responsibility in that regard?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: If the book of quantum was updated-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: I refer to the database that could be provided. Am I correct in stating that at present there is no integration between An Garda Síochána, the insurance companies and the courts? Is there no compiling of data carried out individually between companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Who is saying that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Who is ultimately responsible for compiling that data?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Like joining a golf club.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Who compiled and who manages the database in the North?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Is it on a statutory footing in Northern Ireland and the United Kingdom?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Mr. Faughnan spoke about Setanta. From what I understand, Setanta's management and control of operations, in essence, were based in Ireland. Am I correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: However, the company was regulated in Malta.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: But the issue here was a prudential issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: What would give comfort to the insurance industry? If I am correct, what appears to have happened is there was huge competition, in which companies probably were outbidding one another to a level that may not have been sustainable. People now are pulling back, Setanta has folded and many entities are pulling out of the market. Premiums literally have gone through the roof and they are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Young drivers and old drivers are becoming major casualties. What would give comfort in this regard? What type of regulatory regime should be in place here that would bring other insurance providers into the market, thereby bringing about what would be termed a sustainable level in which insurance premiums for younger drivers, older drivers and other groups would decrease to a realistic...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: What do the data show?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Is Mr. Faughnan including Northern Ireland in that comparison?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: Is that across the age groups?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (8 Sep 2016)

Kieran O'Donnell: What has happened from 2014, when premiums were 40% lower, to the present?

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