Dáil Éireann debate -
Tuesday, 14 Mar 1995

Vol. 450 No. 6

Written Answers. - Consumer Credit Bill.

Ned O'Keeffe

Question:

158 Mr. E. O'Keeffe asked the Minister for Enterprise and Employment if his Department's Consumer Credit Bill will cover the insurance, assurance and pension industry as well as brokers operating in these areas; and if the Bill will make transparent and understandable the amount of commissions charged directly and indirectly to the insured as well as the surrender value, if any, of endowment and pension policies in the early years especially; and, if not the reason therefor. [4286/95]

Minister for Enterprise and Employment (Mr. R. Bruton)

The Consumer Credit Bill, currently at Committee Stage, is concerned with consumer credit issues only.

The Bill shall require the disclosure to consumers of all charges, commissions, fees and other expenses relating to housing loans and any associated insurance policies.

As indicated the Bill deals with consumer credit and it would be inappropriate to extend it to the insurance, assurance and pension industries generally.