Oireachtas Joint and Select Committees
Thursday, 1 June 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Motor Insurance Costs: Minister of State at the Department of Finance
10:00 am
Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source
I know there are some incredibly difficult cases as a result of what happened with Setanta. I refer here to people who made claims and who are now uncertain as to what this will mean for them in the context of the difficulties they have endured and the costs they might be obliged to bear in the future regarding personal injuries or other difficult medical issues. It is a very difficult situation for many individuals. What we have been trying to do with the insurance industry is to reach a point whereby we can protect people in the future with a new compensation framework. It is very important that people will know that once this legislation is on the books, this type of uncertainty will not arise in the future. I met the relevant actors involved before the judgment was handed down in order to ensure that they were ready to progress the first tranche as quickly as possible. That work continues to be done. They will move forward with it very quickly and bring about as much certainty as they can for those involved in the initial 250 cases. They will then move to the next tranche. Other work has been done to speed the process up even further. I do not want to go into detail at the moment. Conversations are being held to see if we speed up the process. It might require a change in legislation that would have to be fast-tracked almost immediately. If we can do that, we will because we want to resolve the uncertainty people have felt for a number of years. If the Deputy recalls, this company failed in 2014 but there has been a delay because of the case that was taken. It is unacceptable but that is the system and the courts and-----
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