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Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I am helping the Minister of State.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: The Minister of State should thank me.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No.3: In page 11, line 20, to delete “three years” and substitute “five years on foot of the contract”. Amendments Nos. 3 to 9, inclusive, significantly improve conditions for consumers and businesses when their policies are due for renewal and will strengthen their hands when they are looking for a better deal or are facing unjustified hikes...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 4: In page 11, to delete lines 22 and 23, and substitute the following: “(b) a list of any claims, including if such have been made, third party claims, that have been paid, on foot of the contract, by the insurer to the consumer (or, as the case may be, to the third party or parties concerned) in the preceding 5 years, except, where the contract concerned is a...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 5: In page 11, line 24, to delete “policy” and substitute “contract”.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 6: In page 11, line 25, to delete “three years” and substitute “five years”.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 7: In page 11, line 27, to delete “year(s)” and substitute “year or years”.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 8: In page 11, line 30, to delete “year(s)” and substitute “year or years”.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I move amendment No. 9: In page 11, to delete line 31 and substitute the following: “(3) Insubsection (2)the reference to any mid-term adjustment made to the contract is a reference to any alteration lawfully made to the provisions of the contract, at any time during its currency, that results in a change in the amount of the premium charged or in the application of any fee or...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I am truly delighted that the Consumer Insurance Contracts Bill 2017 has passed through Seanad Éireann. Again, I commend my Sinn Féin colleague, Deputy Pearse Doherty, on introducing and persisting with this important legislation. I also acknowledge the valuable contribution of Peter Boland from the Alliance for Insurance Reform and that of all the contributors at the committee...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Rose Conway Walsh: I am joking, of course. Obviously, it takes a leader to lead this but it also takes co-operation, and it has taken the co-operation of the Minister of State and the other parties who have supported the Bill. It has been described as the most radical shake-up of consumer legislation in centuries in this State. The Alliance for Insurance Reform has said the legislation is a game changer that...

Joint Oireachtas Committee on Health: Quarterly Meeting on Health Issues (11 Dec 2019)

Rose Conway Walsh: My question relates to Valproate. Does the Minister have the Valproate response project report on his desk? Has he been in contact with OACS Ireland and Epilepsy Ireland about this? I asked him before about a public inquiry into this. Is he still open to an independent inquiry or investigation into the prescribing of Valproate, given the teratogenic effects of it were widely known, even...

Joint Oireachtas Committee on Health: Quarterly Meeting on Health Issues (11 Dec 2019)

Rose Conway Walsh: I apologise but I have to attend a vote in the Seanad. I will pick up the answers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: I thank Mr. Makhlouf for his opening statement and I wish him well in his new position. I want to hone in on interest rates. We have a situation where mortgage interest rates for new customers are between 2.25% and 3% but for existing customers they are in the region of 4.5%. We see all of the time that our mortgage interest rates, particularly for existing customers, are higher than...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: To clarify, because it forms the basis of everything we are discussing, is Mr. Makhlouf saying it is wrong to say mortgage interest rates in the Irish market are twice the average level within the eurozone?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: Is it riskier now, in the current climate, than in, say, Germany or Italy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: Does Mr. Sibley think that is reflected in interest rates? I am trying to make sense of this in terms of being able to make proper comparisons. Given the work the Central Bank has done with the banks since the crash on stability, and the growing profitability of these banks, should that not be reflected in the interest rates they charge their customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: Does Mr. Sibley think they are justified?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: To get back to my question, Mr. Sibley says the Central Bank is dealing with some of the underlying issues causing Irish mortgage holders to pay higher rates than mortgage holders elsewhere. At the same time, banks are making massive and ever-increasing profits. It is very difficult for mortgage holders to understand why they are not feeling the benefits some of the banks which they bailed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Rose Conway Walsh: Switching is very important. I am glad to see that the Central Bank is taking its role seriously in this regard. How is the effectiveness of the measures introduced to encourage switching measured?

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