Madam, - Media reports last week showed that the report on the insurance sector from the Oireachtas Joint Committee on Enterprise and Small Business reflected the changing nature of the insurance industry in Ireland.
However, the report did not take into account the fact that the insurance industry is gearing up to meet the challenges that lie ahead, including the impact of penalty points on driving habits. As claim numbers fall, companies are taking action in relation to their own cost base. Companies are also preparing for the impact of the Personal Injury Assessment Board.
The major insurance companies in Ireland have invested in this country by creating good, secure and pensionable jobs. What investment can we expect from the companies invited to write business in Ireland? What we will see is a front office and no staff, with all the transactions offshored to India or South Africa.
AMICUS, the major union in the finance sector representing over 9,000 members, has no problem with competition in the insurance industry. But we do expect it to provide similar quality jobs in Ireland.
The Tánaiste, Mary Harney, is inviting companies to trade in Ireland when the insurance market is showing a profit. How many of them will be around when the going gets tough? - Yours, etc.,
JOHN GIBSON, Chair, AMICUS Finance Sector, Merrion Square, Dublin 2.