asked the Minister for Industry and Commerce if he will state whether a licence entitling them to transact employers' liability insurance was held by the Dublin firm of insurance brokers whose tender was accepted by the Commissioners of Public Works for insurance of employers' liability risks, this tender having been submitted to the commissioners pursuant to a notice published by them on 28th February, 1950, inviting tenders from insurance companies having registered offices in Ireland.
Ceisteanna—Questions. Oral Answers. - Licence of Insurance Brokers.
Insurance brokers do not carry on any class of assurance business as defined in the Insurance Act, 1936, and, accordingly, they do not require to be licensed under the Act. The firm to which the Deputy has referred in his question acted as brokers in placing the business mentioned with an insurance syndicate holding a licence under the Insurance Act, 1936.
Is the Parliamentary Secretary aware that the acceptance by the Board of Works of that brokers' tender was not in compliance with the advertisement in the papers because the insurance company whose tender was accepted has not a registered office in this country?
Insurance brokers who carry on business under the 1936 Act do not require to be licensed. This firm acted as brokers in placing the business with an insurance syndicate holding a licence under the Insurance Act, 1936.
But the people who got the business from the Board of Works have not a registered office in this country and I suggest it is not in accordance with the advertisement which appeared.
The syndicate is licensed under the 1936 Act and, so far as I am aware, the brokers have an office in this country.
That is all right, but they are only brokers. The insurance company has not registered offices here and, therefore, this matter is not in compliance with the advertisement that appeared in the Press.
I suggest that is a separate question.
Will the Parliamentary Secretary take measures in order to see that in the future tenders will be asked only from insurance companies that have registered offices in this country?
The particular syndicate with which this insurance business was placed is licensed under the 1936 Act. The question of making other provision in future tenders is a matter for consideration.
How can the Government or the Parliamentary Secretary expect the general public to listen to their exhortations about supporting Irish industry if a headline of a disgraceful nature of that kind is set by the Government?
It is pure subterfuge.
This advertisement was issued by another Department, and if Deputies want information they should address their questions to the appropriate Department.
I addressed a question of the same nature before and I got a somewhat similar answer. I confirmed my impression that the insurance company that got the tender from the Board of Works has not a registered office in this country.