Insurance Regulatory Update, April 2019

Domestic News

APRIL 2019

PUBLIC CONSULTATION ON PRIVATE MEMBERS’ BILL – CONSUMER CONTRACTS BILL 2017

The  Consumer Insurance Contracts Bill (the Bill) was introduced in the Dáil as a Private Members’ Bill in January 2017 and passed second stage in February 2017. On 13 December 2018, the Joint Oireachtas Committee on Finance, Public Expenditure and Reform and Taoiseach (the Joint Committee) published a “Report on Scrutiny of the Consumer Contracts Insurance Bill 2017” in which it asked for a cost-benefit analysis on the Bill to be carried out. Some of the main aspects of the Bill as proposed are that:

• the legislative framework should apply to consumers (as defined in the Consumer Protection Code);