Vol. 435 No. 9
161 Proinsias De Rossa asked the Minister for Enterprise and Employment the plans, if any, he has to introduce legislation to regulate the operation of pension/insurance type schemes known as income continuation schemes; if his attention has been drawn to complaints made by the Tara Disabled Mineworkers' Association regarding the operation of one such scheme; if he will have these claims investigated; and if he will make a statements on the matter.
I am aware that a number of Irish insurance companies underwrite income continuance plans. These insurance companies are subject to existing insurance legislation. I should point out that my primary responsibility, as the insurance supervisory authority, is to ensure that insurance undertakings meet their statutory solvency and reserving requirements. In order to meet these financial requirements insurance undertakings must be free to make their own underwriting decisions. As such, the terms and conditions of individual insurance contracts are matters to be agreed between the insurer and policyholder.
