Results 181-200 of 4,002 for speaker:Rose Conway Walsh

Seanad: Order of Business (6 Oct 2016)

Rose Conway Walsh: The 108 family resource centres throughout the country do valuable work. They presented their pre-budget submission yesterday. They are governed by the Family Resource Centre National Forum, their representative body. As somebody who managed a community development project, I know at first hand the valuable work done by these centres to combat disadvantage, and strengthen and empower...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: I thank Dr. Roux for being here today. We looked forward to his visit with much anticipation. I believe he is the final witness. I will start with a few brief questions. In terms of the raw data available to the Central Bank of Ireland, is Mr. Roux satisfied he has all the raw data he needs from the insurance industry, and is he satisfied with the integrity and the timing of that raw data?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Notwithstanding Solvency II, why has this data not been available before now? In terms of the Central Bank's consumer protection role, one person stated publicly last night that their insurance had increased from €1,200 to €7,000 in one year so it is of little solace to those people for Mr. Roux to say the Central Bank will get more data but it will not be available for a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Has Mr. Roux ever been refused data from the insurance industry? Has he ever had a request refused?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: In terms of this extra data Mr. Roux will be getting in, which will be very useful in terms of his supervisory role, is he concerned that he will not have enough resources within the Central Bank to be able to analyse it in the way it does? If he does not have enough now with the extra data, it will impose further pressures. What planning is he doing to ensure that there are sufficient...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: That does not fill me with confidence that it will be done in a timely way. Mr. Roux flagged in a letter to Mr. Derek Moran that additional measures that could be taken to strengthen the supervision of non-life insurance included consolidation of disparate insurance regulations in a coherent whole, transposing without further delay the Solvency II directive. Has that happened?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Has the Central Bank looked for any other powers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: I do not think Dr. Cyril Roux has answered my question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Are there other powers for which the Central Bank has looked?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Is it the case the Central Bank has all the powers it needs to be able to regulate the motor insurance industry in the way it needs to be regulated and to protect consumers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: There are many who would disagree with Dr. Cyril Roux. If a person chooses or is forced to pay their premium in instalments over several months, does the Central Bank have a role in the APR, annual percentage rate, set by insurance companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: The insurance companies can charge anything they like.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Some of the rates being charged for people who can least afford it are absolutely shocking. The Competition and Consumer Protection Commission said it cannot act in the field of consumer protection in this case and that it is the Central Bank's job to do it. Does Dr. Cyril Roux agree with that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Is it the Central Bank's interpretation of consumer protection that it can only act in the interests of individuals on a case-by-case basis? The Competition and Consumer Protection Commission said it cannot act in this field of consumer protection. Does Dr. Cyril Roux agree with that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: One suggestion made by Dorothea Dowling when she was before the committee was that the Central Bank could operate a one-stop shop online portal where consumers could access a real-time, best quote for compulsory cover for each risk profile. Can the Central Bank do that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: The Department has laid out its proposals to deal with the Setanta type issues in the future. Basically, the Motor Insurers Bureau of Ireland, MIBI, will cough up 35% but not necessarily straight away. Does the Central Bank have a view on whether that proposal will remove uncertainty for possible newcomers to the market?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: Is the Central Bank concerned about the consequences for the wider economy with the reduction in people's spending power, particularly in rural areas, because of these huge insurance costs? Money is being sucked out of local economies. Is the impact of this on employment potential in rural areas a concern for the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Rose Conway Walsh: I understand that. Claims settlements have not increased by hundreds of per cent, which is the percentage increases reflected in people's premiums. I will conclude on that point as I know other members want to contribute.

Seanad: Order of Business (11 Oct 2016)

Rose Conway Walsh: With the day that is in it I congratulate Fianna Fáil and Fine Gael on their first post-election budget.

Seanad: Order of Business (11 Oct 2016)

Rose Conway Walsh: It has been gas to hear a lot of the contributions made about the budget. It is clear that the backroom deal is not about what is best for the people, the economy or services. It is a budget where Fine Gael and Fianna Fáil dance to each other's tune and see how close they can get.