Insurance costs for community groups to be examined by Finance Committee

Committee Chairman John McGuinness TD said: “Community groups and organisations play an invaluable role in contributing to the daily lives of citizens across the country. Many operate through the goodwill, support and generosity of volunteers and helpers. Tomorrow, the Committee will engage with a range of community sector organisations to hear at first-hand how insurance cover is affecting ongoing operations. Recent media commentary has highlighted rising costs in insurance provision. The Committee wishes to hear how insurance impacts on community based organisations and what can be done to support such groups which provide vital community and social services throughout Ireland. In the second part of our meeting, the Committee will engage with FBD Insurance – one of the main insurance operators in the Irish market.”

Among those addressing the Committee on the topic on Thursday are:

Peter Boland, Alliance for Insurance Reform; Marian Devane, Manager, Tuam Cooperative Livestock Mart; Eimear McGuinness, Manager, Donegal Cooperative Livestock Mart; Barry Sheridan, Irish Men's Sheds Association; Tom Ryan, Director-General, Gaelic Athletic Association and  Jackie McMahon, Chief Claims Officer, and John Cahalan, Chief Commercial Officer FBD Insurance.

Before the Committee addresses the issue of insurance costs, it will undertake scrutiny of EU Legislative Proposals: Schedule A: COM(2018)134 on Minimum Loss Coverage for Non-Performing Exposures; COM(2018)135 on Credit Servicers, Credit Purchasers and the recovery of Collateral; COM(2018)163 on Charges on Cross-Border Payments in the Union and Currency Conversion Charges;  
         
The meeting will start at 10am in Committee Room 2, Leinster House and proceedings can be followed here.

Committee proceedings can be viewed live here and can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.