Michael McDowell
Question:24 Mr. M. McDowell asked the Minister for Enterprise and Employment if he intends to bring the provisions of section 49 (2) of the Insurance Act, 1989, into force; and if he will make a statement on the matter. [10983/95]
Written Answers. - Insurance Legislation.
Liz O'Donnell
Question:27 Ms O'Donnell asked the Minister for Enterprise and Employment when he intends to prescribe a code of conduct or codes to be observed by insurance agents or brokers in this State under the provisions of section 56 of the Insurance Act, 1989; and if he will make a statement on the matter. [10982/95]
I propose to take Questions Nos. 24 and 27 together.
In relation to section 49 (2) of the Insurance Act, 1989, which empowers the Minister to limit to four the number of agencies which can be held by insurance agents, I intend to implement appropriate regulations before the end of 1995.
As regards section 56 of the Insurance Act, 1989, concerning the Minister's powers to prescribe codes of conduct for insurance agents and brokers. I intend to give statutory backing to the existing voluntary Code of Practice as soon as discussions and input from interested parties have been satisfactorily completed.
I believe that the proposed enactment of the provisions should improve the regulatory system applying to insurance intermediaries in the interests of consumers and in the context of the single market.