Finance Committee to meet with Minister to focus on insurance costs

Committee Chairman John McGuinness TD said: “The Cost of Insurance Working Group, chaired by Minister of State Michael D’Arcy TD, has undertaken a review of the factors which are influencing the increased cost of insurance. It has already produced two reports – on Motor Insurance and Employer Liability Insurance and Public Liability Insurance. Following on from our meeting last week on the impact of insurance costs on community groups, we will be keen to ascertain what actions and recommendations from these reports have been implemented and if they are having the desired effect of addressing increasing costs.”

Before it discusses the insurance issue, the Committee will carry out further scrutiny of EU Legislative Proposals: COM(2018)134 on Proposal for a regulation of the European Parliament and of the Council on amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures; and further scrutiny of EU Legislative Proposals: COM(2018)135 on Proposal for a directive of the European Parliament and of the Council on credit servicers, credit purchasers and the recovery of collateral (resumed) with officials from Dept. of Finance and representatives from Central Bank of Ireland

The meeting will start at 4pm in Committee Room 3, 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.