andMr. McQuillan asked the Minister for Industry and Commerce whether he is satisfied that in all those cases where illegal insurance policies were effected by insurance companies suitable restitution and compensation have been or are to be made to those policy holders carrying this form of insurance.
Ceisteanna—Questions. Oral Answers. - Illegal Insurance Policies.
17.
Under the Insurance Act, 1936, an insurance company which issues an illegal policy of industrial assurance is liable to pay to the policy-holder, either the cash surrender value of the policy or a sum equal to the premiums paid, depending on the date on which the policy was effected, unless the company proves that, owing to misrepresentation on the part of the proposer or the person effecting the policy, it did not know that such policy was illegal.
It is for the courts to determine whether an insurance policy is illegal or otherwise.