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ARTICLE · 20 JANUARY 2022

Insurance (Miscellaneous Provisions) Bill 2021 Update

William Fry LLP
William Fry LLP
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On 20 October 2021, the General Scheme of the Insurance (Miscellaneous Provisions) Bill 2021 (General Scheme) was published. The General Scheme will address several insurance-related issues highlighted in the Action Plan...

IrelandInsurance
John Larkin
John Larkin
Eoin Caulfield
Eoin Caulfield
Ian Murray
Ian Murray
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On 20 October 2021, the General Scheme of the Insurance (Miscellaneous Provisions) Bill 2021 (General Scheme) was published. The General Scheme will address several insurance-related issues highlighted in the Action Plan for Insurance Reform. The Action Plan for Insurance Reform was published by the Department of Finance to reflect the insurance-related commitments made in the  Programme for Government.

The main amendments relate to:

  • The power of the National Claims Information Database (NCID) to collect data concerning deductions relating to public money from insurance compensation payments;
  • Price-walking;
  • Disclosures in claims handling; and
  • Amendments to the Temporary Run-off Regime under the European Union (Insurance and Reinsurance) Regulations 2015.

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