Dáil Éireann Debate, Thursday - 11 May 2006
62 Mr. Gogarty asked the Minister for Social and Family Affairs the action he intends to take to rectify the absence of a source of recourse for employees in the event of a dispute between an employer and an employee under an income continuance scheme leaving employees uncovered by a regulator or ombudsman. [17542/06]
View answerIncome continuance plans provide cover to individuals in the event of long term illness or disability which prohibits the person from following their own normal occupation. These plans are insurance policies and the providers of the products are regulated by the Financial Regulator since May 2003.
There are different types of products in the market, those sold directly to individuals by insurance companies and those that are employer sponsored. I am aware of issues arising in relation to the latter type of product in regard to access to an ombudsman in the event of a complaint or dispute and I propose to discuss these issues with my colleague the Minister for Finance, who has the main responsibility in the financial services area.
