Vol. 376 No. 11
asked the Minister for Industry and Commerce if he will introduce regulations to provide for a common form of indemnity between the building societies and the Insurance Industry Federation in respect of house cover as now operates between the banks and the federation.
70.
asked the Minister for Industry and Commerce if he intends making regulations to ensure that borrowers seeking endowment mortgages have freedom of choice of insurance company or broker.
I propose to take Questions Nos. 69 and 70 together.
I have no statutory powers to make such regulations.
In relation to the use of a common form of indemnity between members of the Irish Insurance Federation and building societies, I understand that the IIF submitted proposals in June, 1987 to the building society movement with the view to overcoming any difficulties in this area and that a response is awaited from the Irish Building Societies Association.
