Dáil Éireann Debate, Tuesday - 22 March 2016
82. Deputy Pearse Doherty asked the Minister for Finance his plans to make legislative changes to clarify the division of responsibility between the Motor Insurers Bureau of Ireland and the insurance compensation fund to prevent legal issues arising, were another company to collapse in similar circumstances to a company (details supplied); and if he will make a statement on the matter. [5134/16]
View answer83. Deputy Pearse Doherty asked the Minister for Finance his plans to alter the criteria for accessing the insurance compensation fund or to change the maximum level of payment it can make; and if he will make a statement on the matter. [5135/16]
View answerI propose to take Questions Nos. 82 and 83 together.
The Minister for Transport, Tourism and Sport and I have asked our officials to carry out a review of the framework for motor insurance compensation in Ireland. The work on this review is advanced and it is anticipated that the Joint Group will report to us in the coming weeks.
The objective of the Review is to identify the features of a motor insurance compensation framework for Ireland that is comprehensive, effective, affordable and consumer focused. The Review will make recommendations on the arrangements for motor insurance arising from the liquidation or administration of an insurance company and on the arrangements in relation to the payment of compensation for road accidents caused by uninsured and untraceable road users.
The Joint Group is engaging with relevant stakeholders involved in governance and administration of the motor insurance system. The frameworks for motor insurance compensation in other EU jurisdictions and relevant legislative and regulatory developments in Ireland and in the EU are also being considered.
I am not in a position to advise if there will be any legislative changes at this time as the review is still underway and its recommendations have yet to be finalised for consideration.
