Results 19,341-19,360 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: Clearly, that means there was a problem. Did the Central Bank not automatically question the level of reserves to ensure solvency of the firm?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: What about the 75,000 customers in Ireland? Setanta Insurance was dealing purely in the selling of motor insurance into Ireland.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: Surely, in terms of regulation, the Central Bank had a responsibility to the 75,000 Setanta Insurance customers and-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: I simply want a quick "Yes" or "No" answer. Did the Central Bank have a responsibility to the 75,000 Setanta Insurance customers in Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: Is there not a flaw-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: What is the role of the Central Bank in the insurance compensation fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: I had a look at the Act and the Central Bank carries out an annual assessment of the financial position of the fund. The Central Bank has a role in the fund. Was Setanta paying levies into the fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: It was clear that the Central Bank had concerns going back to September. Over a two-month period between September and November, the Central Bank appears to have carried out an inspection at Setanta, including contacting the Maltese financial services authority about insolvency. There was also an inspection of Setanta in Ireland and, in November 2013, the Central Bank contacted the Maltese...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: The problem with the Setanta product is that it was licensed by the Maltese financial services regulatory authority but only sold the product in Ireland. The company is paying the levy into the insurance compensation fund. Clearly, the Central Bank had serious concerns but the company continued to write new products. The brokers were uneasy about the Setanta product but they were sure they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Kieran O'Donnell: It amounts to almost €45.5 million between premiums that have not been refunded and €35 million in claims. The Motor Insurers Bureau of Ireland is hedging its bets and there are 75,000 customers out there. Our role is to question whether the Central Bank was asleep at the wheel. The Central Bank had concerns but the question is whether it had the authority, if it wished, to...
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: When was the audit conducted?
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: I raise a local issue for Limerick, which involves the accident and emergency department at University Hospital Limerick in Dooradoyle and the speed at which it will be completed. Mr. O'Brien attended here three or four weeks ago and committed to reverting to us. I have written since. Can Ms McGuinness see what can be done to speed up the process?
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: When is it expected that the audit of CRC Medical Devices will be concluded? I ask Mr. Cregan.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: Mr. Cregan might keep the committee informed.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: There was one put in place.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: It appears that F&S is providing a guarantee in respect of a loan provided by the CRC to CRC Medical Devices. The issue is that the CRC was exposed in terms of CRC Medical Devices. Therein lies the unanswered question. Does Mr. Goulding know how it was funded from day 1 and what type of funds were used. Was it public or private funding? That appears to be where the guarantee is....
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: I am more interested in the estates position within the Department, apart from the CEO. I thank Mr. Goulding for attending.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: Something positive will come out of this. The fantastic work Mr. Goulding's mother and family did in establishing the CRC and the work on the ground of the service will stand the test of time.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: However, we have issues to deal with.
- Public Accounts Committee: 2012 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 39 - Health Service Executive
Section 38 - Agencies Remuneration (3 Jul 2014) Kieran O'Donnell: Forty-three of the 143 or 43-----