Results 121-140 of 4,002 for speaker:Rose Conway Walsh

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

Rose Conway Walsh: Was Insurance Ireland involved?

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 am sorry for keeping the delegation so late in the day. I thank them for coming before us. We all waited with great anticipation to hear what they would say. I have the benefit of hearing what they said this afternoon and many of my questions have been answered. Last October the Competition and Consumer Protection Commission, CCPC, warned Insurance Ireland about signalling price...

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

Rose Conway Walsh: That is not my experience with the people who deal with me. I thank Mr. Thompson for clearing up the matter of Zenith Insurance. Others might disagree with him, but it is important to have it on the record. With regard to volatility, the argument of Insurance Ireland is that volatility is to blame. That is just nonsense. Steady increases are not signs of volatility, but signs of price...

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

Rose Conway Walsh: Does Insurance Ireland have an aggregate figure for the increase in reserves over the last couple of years?

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

Rose Conway Walsh: The witnesses are saying there is no correlation whatsoever between the failing of, and decreases in, the bond market and the increase in the price of insurance.

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 understand that. Are the witnesses concerned about the Solvency II directive or that any of the insurance providers will not meet its criteria?

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 must move on, as I am conscious of the time. I must return to the data situation, but some of the questions will only require a quick yes-or-no answer. Will Insurance Ireland provide and publish the data for out-of-court settlements for 2015?

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 that "Yes"?

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

Rose Conway Walsh: When will that be available?

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

Rose Conway Walsh: Are the witnesses stating that all the raw data are available to the Central Bank and to the Competition and Consumer Protection Commission, CCPC? I ask because we have the Central Bank before us on Monday and I really want to get to the bottom of this. If the Central Bank has the requisite actuarial resources, does it have the raw data to be able to provide all the information needed to be...

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 understand that but what does Mr. Horan mean by granular information?

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

Rose Conway Walsh: Has Insurance Ireland ever refused to supply the Central Bank with any information it has requested?

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

Rose Conway Walsh: In respect of claims and out-of-court settlements, does Insurance Ireland have information on the breakdown between the payout, the legal costs and the commission involved, as well as on any other costs involved? Is the information already broken down to that level?

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

Rose Conway Walsh: Can it be broken down?

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

Rose Conway Walsh: If it makes the request, it is for others to decide whether the data are worthwhile. The witnesses have stated that if it requests any information across the board to do with the insurance industry, it will be supplied to it and that nothing is kept from it.

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 is important to have raw data and not interpretations of them. That may be where fears arise in this regard. While members know the amount paid by the Injuries Board and the courts for whiplash, for example, they have no idea how much is paid in the out-of-court settlements.

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

Rose Conway Walsh: Insurance Ireland will give it to the Central Bank as and when.

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 wish to refer to the book of quantum because Insurance Ireland called for it-----

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 believe it is astonishing that that information has not been shared before now. There were probably 13 different bodies in here before Insurance Ireland. Consistency is a word that the witnesses said was very important in the insurance industry. Consistently, those bodies have told us that the information they need is not being provided and is being kept hidden from them. It is for...

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 just want to knock on the head the idea that the book of quantum is internationally benchmarked as well as the whole cash-for-care model. We cannot compare different countries in terms of the costs of medical expenses. Therefore, how can it be benchmarked? Should we ignore the fact that British health care is free? Our Constitution will not allow a cash for care model in any case. Will...