Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

This is an important amendment. Some of the amendments we have dealt with had substance and others were technical or textual changes. This is one of the amendments of substance and there will be several others from the Minister of State and Deputy Michael McGrath later. This will require the insurer to notify a consumer in his or her schedule of any previous premiums paid by the consumer to the insurer in the preceding three years and the list of any claims that have been paid by the insurer to the consumer in the preceding three years. It also sets out what would happen in respect of a consumer only having cover for a portion of that period where an annualised premium figure would be provided. Regulations were introduced earlier this month that only cover motor insurance. This would apply to public liability as well. It also goes further than the regulations that are in place because it provides not only for last year's figures but also over a three-year period. The Alliance for Insurance Reform has strongly argued for this. In my discussions with the Minister of State and on Committee Stage we addressed a five-year timeframe. We have been able to settle at this point on three years and I encourage the Minister of State to provide for the earliest possible commencement date for this. Does he have a view on that?

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