IRELAND’S INSURANCE CRISIS: What is the Government doing?

16 November 2019
By Elaine Murphy

Donohoe’s hands-off approach to insurance crisis exposed – McGrath

Information revealed to Fianna Fáil Spokesperson on Finance Michael McGrath TD has revealed that the Minister for Finance Paschal Donohoe has not had a single meeting with the insurance industry in the past two and a half years on the deepening insurance crisis.

Carrigaline based TD Michael McGrath

Deputy McGrath commented, “The information revealed in this parliamentary reply is nothing short of extraordinary. As businesses have closed throughout the country as a result of the insurance crisis, the Minister for Finance has failed to engage with the industry and challenge them on the role they have in resolving the problems.

“Since being appointed as Minister for Finance in June 2017 with overall responsibility for insurance, Minister Donohoe has not led from the front. The information in this reply shows that Minister of State Michael D’Arcy has had dozens of meetings with the insurance industry over that time. The only meeting Minister Donohoe had with the insurance industry in March 2018 was on the implications of US tax reforms and not on the raging insurance crisis. All the while, jobs are being lost in our economy as otherwise good businesses are struggling to get affordable insurance.

“All of this confirms my suspicion that the insurance crisis has not been taken seriously at the highest levels within government. For whatever time is left in this Dáil, insurance has to be on the cabinet agenda. It is not good enough for Minister Donohoe to delegate the entire responsibility for tackling the insurance crisis to the Minister of State. In short, Minister Donohoe has been found to be asleep at the wheel when it comes to tackling the insurance crisis,” concluded Deputy McGrath.

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