Patricia Ryan
Ceist:177. Deputy Patricia Ryan asked the Minister for Finance when he will enact the Consumer Insurance Contracts Act 2019; and if he will make a statement on the matter. [14335/20]
Amharc ar fhreagraTuesday, 7 July 2020
Ceisteanna (177)
Freagraí scríofa
In line with the commitment that I had previously given that the commencement of the Consumer Insurance Contracts Act would be determined by the Minister for Finance of the new Government, I can confirm that the matter is under active consideration. I envisage that the bulk of the provisions of the Consumer Insurance Contracts Act will be commenced shortly.
I am also keen to determine an appropriate commencement date for section 8 ‘Pre-contractual duties of consumer and insurer’ and Section 12 ‘Renewal of contract of insurance’, and the interlinked Sections 9 ‘Proportionate remedies for misrepresentation’ and Section 14(1)-(5) ‘Duties of consumer and insurer at renewal ’ as soon as possible. On the basis of my previous discussions with the insurance industry, I believe a certain amount of time is required for them to put in place new systems and processes to enable them implement these provisions effectively. I expect that my officials will provide me with their assessment as to the appropriate lead in time shortly, once they have concluded their current discussions with Insurance Ireland. I then expect to be able to signal my decision on this matter in the next number of weeks.