asked the Minister for Industry and Commerce whether finality has yet been reached in regard to the payment of compensation to clients of the Equitable Insurance Company; if so, its nature, and, if not, if he can now indicate when a decision will be reached.
Ceisteanna—Questions. Oral Answers. - Equitable Insurance Company.
21.
This matter is still under consideration and a final decision has not yet been reached. I am fully aware of the situation created for policy holders by the failure of this company and I can assure the Deputy that there will be no avoidable delay in bringing the matter to a conclusion.
Might I ask the Minister for Industry and Commerce, to whom I have addressed several questions on this matter, what does he mean by "avoidable delay"? Can he give any indication in terms of time?
The Deputy will appreciate this is a very complex matter——
I do.
——that involves quite considerable consultation with a variety of interested parties, that the solution is not an easy one, that it will involve consultation also with my colleagues in the Government. I am trying to expedite as much as possible all these consultations and decisions. I am quite aware of the difficulties policy holders are suffering as a result of this and I expect that in a matter of some weeks at any rate I shall be in a position to give some indication of what the proposed remedy will be.
Will the Minister address a personal explanation to policy holders involved?
I have no personal explanation to offer to anybody.
Regarding the delay?
To the policy holders?
The Minister is very profligate in issuing letters and this is a case surely——
Question No. 22.