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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: We just do not have time to go into a comprehensive explanation. I want to cut to the nub of the matter. Do underwriters pay a fee for access to the database?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Does Insurance Ireland own that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Can Mr. Phelan tell the committee whether the Irish Brokers Association has access to that database?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: If an insurance broker operating in a small town has been dealing with a customer for ten or 15 years and that customer wants to renew his or her motor insurance, what happens in practice and how does the broker come back to the individual? How does that differ from what Mr. Carty does?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Mr. Carty might elaborate. He says he works for an underwriter.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: For argument's sake, if insurers are entering the Irish market-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Such as Zenith. If Ms O'Callaghan as a broker wishes to get a quote from an insurance company which Mr. Carty's company represents in Ireland, does she contact Mr. Carty?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: It is the city of Limerick.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Never call it a town.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Mr. Carty is doing well so far.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Typically, a person comes into Ms O'Callaghan. What changes has she seen in the last three years in terms of the different companies? Are they all quoting the same rates? Has there been a change in the way they are quoting? What has she seen in terms of the increase in premiums? What is it like at the coal-face?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: What about someone from Limerick who went to Australia for three or four years, was insured there and comes back to Limerick?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Can Ms O'Callaghan explain the trend? I am more interested in the trend. Is there a consistent trend among all the companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Is there a competitive market any longer?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Not for motor insurance. Was there a competitive market in 2012 and 2013?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Has it become less competitive?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Are the rates being quoted almost identical across companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: In certain categories, will there be only one insurance company which will quote?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: Has that become a feature more and more?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (15 Sep 2016)

Kieran O'Donnell: How many years has Ms O'Callaghan been in the business as a broker?

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