asked the Minister for Industry and Commerce if he is yet in a position to make an announcement of the proposals to relieve policy holders who have incurred hardship by reason of the failure of the Equitable Insurance Company.
22.
Ceisteanna—Questions. Oral Answers. - Equitable Insurance Company.
21.
asked the Minister for Industry and Commerce whether finality has yet been reached in regard to the payment of compensation to clients of the Equitable Insurance Company; if so, its nature; and, if not, if he can now indicate when a decision will be reached.
23.
asked the Minister for Industry and Commerce if he is now in a position to make a statement on the investigation into the affairs of the Equitable Insurance Company.
I propose, with the permission of the Ceann Comhairle, to take Questions Nos. 21, 22 and 23 together.
I intend to introduce, as quickly as possible, legislation which will provide for the establishment of a fund out of which claims under the controlled classes of policies will be met in so far as these claims are not met by the Motor Insurers Bureau. The fund will be financed by a levy on the insurance companies and by a State contribution.