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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: It is more important to those of us in the west. Mr. Redmond referred to the Wild Atlantic Way.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: Not yet, but it is improving. What Mr. Redmond stated was interesting. When people arrive at an airport such as Knock - or any airport - they need car rentals, particularly if one wants to open up the Wild Atlantic Way. It is all connected, similar to the connection with the wider economy mentioned by Ms Murphy. Not only visitors are affected, as it is also a penalty on our returning...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: I thank the witness for the clarification as it is an important point. It is clear Mr. McDonnell has put much thought into the presentation and Freight Transport Association Ireland has given us 52 recommendations, some of which are common sense and can be done, although I might have a slight issue with others. However, even if all 52 were implemented tomorrow, as long as the insurance...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: I thank the witnesses for their presentations. I agree with a lot of their analysis, particularly the clearing up of the so-called facts that have had too much influence on this debate to date. That is not to say that, as part of the system which includes politicians, insurers and others, there is no role for legal practitioner to play in reducing premiums. That is not to say that, as part...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: Does the uniformity in the approach from insurance companies in premiums cause Mr. Murphy concern? This is of concern to people and we need to bring it down to people because, at the end of the day, people are our main concern. This is relevant for those people who are injured and those whose premiums are increasing. That includes those who are injured, and the way they are being treated....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: It related to the uniformity of approach. Is Mr. Murphy concerned about that? Does he believe it is worth investigating or that it warrants investigation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: The other question related to costs. I am concerned about the view coming from Mr. Murphy to the effect that there is nothing the legal profession can do about the rising costs of insurance companies. We do not believe that to be the case in the context of reduction of legal costs and the competitiveness of the sector.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (13 Sep 2016)

Rose Conway Walsh: As long as there is not uniformity there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: I thank the witnesses for their presentations. For the last two weeks, we have been putting all the pieces together and as such it is very interesting to hear the different perspectives. We have proposed that the CSO take on the role of providing an independent voice in regularly publishing data on the industry. Does the Society of Actuaries in Ireland feel that it is better placed to do...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Has the society stressed to Insurance Ireland the importance of making the data available in order that it can be analysed properly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Did they say why it had not been done to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Is there any competitive impediment to the gathering of the data?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: From the information the board has, is there any monetary advantage to using a solicitor when dealing with such cases?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: When the board is making an assessment, does it take into consideration the high medical costs in this country as opposed to others?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: Is there an actuarial rationale for the non-recognition of no-claims bonuses for people returning from other countries?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Discussion (Resumed) (14 Sep 2016)

Rose Conway Walsh: There is no actuarial reason for it. With regard to the witness's multinational experience with Zurich, it should be easy for any insurance company to access information on whether somebody's no-claims bonus is bona fide.

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

Rose Conway Walsh: I thank the two deputations for their presentations. They were very informative. I am sorry I missed the programme Ms Dowling spoke on the other night. I must look back on it. My first question is for Mr. Phelan. We will hear later from Insurance Ireland that operators in the sector are underpricing and have been underpricing for some time now. At any point in recent years, did brokers...

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

Rose Conway Walsh: Is there a written record of the association's correspondence with the Central Bank?

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

Rose Conway Walsh: It was not documented at any time.

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

Rose Conway Walsh: Again, we hear about the claims culture. Surely, the insurance sector blaming a claims culture is like police blaming a criminal culture for crime. At the end of the day, we have insurance in order that people can make claims; that is the sector. An insurance sector with a no-claims culture would surely be of no use. There is nothing wrong with making claims. Let us consider whiplash,...

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