asked the Minister for Industry and Commerce if he will take action, including if necessary the introduction of legislation, to prevent insurance companies using misleading terms like "comprehensive" to describe policies which do not provide full cover against risks; if he will improve the requirements concerning explanations to be given by insurance companies at the time of canvassing or issuing policies; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Insurance Policy Terms.
71.
I have had no complaints that the insuring public are experiencing difficulties because of the use of terms such as "comprehensive", or because of the explanations given by insurance companies, in relation to policies. I would expect that people would normally be aware that a comprehensive policy is one which covers a wide variety of risks in a particular class but not every conceivable risk. Unless there is evidence that the public are being misled, I do not see what special action is needed.
Surely the Minister and his Department are aware that the word "comprehensive" might be misleading and in that case would they not take some action?
What I am saying is if there is any evidence that people are being misled then we will take action but there is no point——
Will the Minister not suggest to the insurance companies that they use some term other than "comprehensive"?
The Deputy may be aware that it is used now only in relation to motor vehicle policies. Most people taking out policies on mechanically propelled vehicles understand what is meant by a comprehensive policy and I do not want to make a change just for the sake of change. If there is any evidence that there are people who are being misled I will take action.
What does the Minister understand by "comprehensive"?
That it covers damage not only to third parties but also to one's own car.