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Motor Insurance Regulation

Dáil Éireann Debate, Tuesday - 22 May 2018

Tuesday, 22 May 2018

Ceisteanna (148)

Michael McGrath

Ceist:

148. Deputy Michael McGrath asked the Minister for Finance his views on whether policyholders should be informed of a claim made against them once that complaint has been lodged; his further views on whether recommendation No. 8 of the report on the cost of motor insurance can be legislated for; when he expects this recommendation to be completed in full; and if he will make a statement on the matter. [22344/18]

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Freagraí scríofa

As the Deputy will recall, Recommendation 8 from the Report on the Cost of Motor Insurance requires that a protocol be put in place around the requirement for insurance providers to notify a policyholder of claims made against them.

As Minister for Finance, I believe policyholders should of course be informed of a claim as soon as possible after it has been lodged. In addition, while accepting that an insurer has the ultimate right to settle a claim, I am also of the view that it should give appropriate consideration to policyholder’s views in the processing of any such claim. It is also important that a policyholder is informed as soon as a claim is settled.

As outlined recently in PQ 21879/18 regarding Recommendation 8, the Department believes that the substance of the Communication Guidelines for Insurers and Policyholders agreed between the IIF and IBEC in 2003 covers what is required to implement fully this recommendation. However, Insurance Ireland has argued that this recommendation is achieved through the application of the 2012 Consumer Protection Code and that the 2003 Guidelines have been superseded.

The Department is continuing to pursue the implementation of Recommendation 8, in parallel with a related recommendation from the Report on the Cost of Employer and Public Liability Insurance (Recommendation 10). Options are being considered as to the best course of action for bringing the recommendations forward, given industry’s diverging opinion on the matter.

Finally, I am not in a position at this juncture to state when Recommendation 8 of the Motor Report will be fully completed but the Deputy should note that the deadline for implementation of the related Recommendation 10 of the Report on the Cost of Employer and Public Liability Report is Q4 2018.

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