Dáil Éireann díospóireacht -
Wednesday, 17 Apr 2002

Vol. 552 No. 1

Written Answers. - Compensation Payments.

Caoimhghín Ó Caoláin

Ceist:

67 Caoimhghín Ó Caoláin asked the Tánaiste and Minister for Enterprise, Trade and Employment if the compensation measures for the flood victims in Ringsend and East Wall, Dublin, will be expedited; and if she will intervene to ensure that insurance companies which are delaying payment of claims, will be required to make these payments or face withdrawal of their licences. [11270/02]

Minister of State at the Department of Enterprise, Trade and Employment (Mr. Treacy)

With regard to insurance matters, my role relates to the authorisation and prudential supervision of insurance companies with head offices in the State and the monitoring and evaluation of insurance costs trends and key contributory factors. Insurance cover is provided by individual insurance companies and I am not in a position to interfere in their underwriting or claims settlement procedures.

From a prudential point of view, it is important that full information on claims made against insurance companies is available to them, so that genuine claimants may receive payments appropriate to the particular circumstances of their case. In some cases insurers may have required further information from claimants before settlement of those claims.

Recently, in the course of a meeting with the Irish Insurance Federation and representatives of the main insurers, I raised the matter of claims arising from the flooding referred in the question and asked that the processing of claims be dealt with as expeditiously as possible.

I am very much aware of the increases generally in insurance premiums for most types of cover and of the difficulties this is creating for some businesses. I recently met the Irish Insurance Federation and with representatives of the main insurers to discuss these difficulties.

Following a request from the Irish Small and Medium Enterprises Association, I have agreed to meet it to discuss, in particular, the difficulties its members are having in obtaining insurance.