Liability insurance concerns
Treacy asked to hear the rest of the insurance answer. Collins said he was dissatisfied with insurers’ efforts on liability cover, warned that they could lose business to foreign firms when the EC second non-life directive takes effect, and invited details of individual cases; remaining questions were deferred.
In order to facilitate another Deputy I intervened to beat the clock. There is nothing more mysterious about it than that. The Minister will resume now where he left off.
Comment on this
I am not happy with the insurance industry's efforts in this liability area and I have made my views known to them. Indeed, I am concerned when the second non-life directive of the EC would come into operation, which may not be for a few years, that unless the Irish insurance industry is competitive and prepared to take risks, especially in the liability area, they will be losing out business substantially to foreign companies. I am not happy about the area. I will take up any companies which the Deputy wishes to bring to my attention, but I have impressed on the insurance industry their responsibility in this area.