asked the Minister for Industry and Commerce if he will state in regard to the provisions made to recompense persons adversely affected by the collapse of the Equitable Insurance Company, whether he is aware that in some cases disabled workers could not receive workmen's compensation payments owing to the fact that their employers were insured with this company, and that in some cases such workmen, knowing the situation of the employer, failed to bring a claim for the compensation within the required six months; and if he will now take steps to ensure that any worker affected in this way by the collapse of the company may now bring a claim for arrears of compensation even though the normal limit for claims has expired.
Ceisteanna—Questions. Oral Answers. - Equitable Insurance Company.
8.
I am aware that the failure of this company caused a certain amount of hardship and it was for the purposes of alleviating this that the Insurance Act, 1964, was passed.
The Act provides that, in cases in which compensation is payable weekly under the Workmen's Compensation Acts, the High Court shall decide the amount which shall be payable out of the fund established under the Act. The Act does not prescribe any time limit for the making of claims by persons who were insured with the company.
Do I interpret the Minister's reply properly in saying that the men to whom I have referred still have the right to claim?
Yes. They would have the right in any event if there was no problem in the Equitable Insurance Company because the Circuit Court, which is the appropriate Court of jurisdiction, has the right to extend the time within which applications under the Workmen's Compensation Acts can be made if just cause is shown. I take it there will be no difficulty with the liquidator or the High Court in this respect.
I wonder is there any way by which the Minister could give publicity to what he has just said here because there are some workmen who are disabled who are under the impression that at present they have no right to make any claim?
I take it the answer I have given now will get due publicity. I hope that it will.
I hope so.
Is there any likelihood of there being any assets in the Equitable Insurance Company to meet claims?
Having regard to its liabilities, I doubt if there will be much but I expect there will be some assets against the big volume of liabilities it has.
I take it the Minister is pursuing the arrangement to provide compensation in suitable cases that he mentioned earlier in the likely event of the assets of the Equitable Insurance Company being insufficient to meet the claims outstanding against it.
That was the whole purpose of the Act that was recently passed by the House, to create a fund to ensure that such legitimate claims would be met.
Quite.