Vol. 565 No. 2
71 Mr. R. Bruton asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has satisfied herself that persons who purchase travel insurance in relation to a holiday are sufficiently well informed of the limited nature of the cover being provided, which generally excludes any cover in relation to medical expenses; and if she has proposals to ensure greater transparency in relation to this cover. [10550/03]
Insurance is underwritten by individual insurance companies, which set out the terms and conditions of the cover to be provided by particular policies. It is my understanding that the documentation issued in relation to travel insurance policies would contain information on the coverage provided under those policies and on exclusions applicable.
With regard to greater transparency, a number of the recommendations of the Motor Insurance Advisory Board, MIAB, relate to the area of consumer protection, for example, that the duty of utmost good faith should apply to insurers as a corollary to the consumer's duty of utmost good faith. The action plan to implement the MIAB recommendations contains a commitment that the Irish Financial Services Regulatory Authority, IFSRA, when established later this year, will deal with this matter through a code of practice.
