Wednesday, 18 December 2019
Consumer Insurance Contracts Bill 2017: From the Seanad
My colleagues in the Seanad tabled the group of amendments to the legislation, which I sponsored on behalf of the Sinn Féin Party, and they were accepted by all the parties in that House. The amendments will increase the level of information that insurance companies have to give to consumers, both motorists and businesses, in respect of public liability. Insurance companies will have to outline the cost, over a five-year period, of the premiums they charge to consumers, and the number of claims made against the policy in that period.
The amendment before us will increase the period from three to five years.
Amendment No. 5 is a technical amendment that will change the word "policy" to "contract".
Amendment No. 7, too, is technical and will change the word "year(s)" to "year or years".
I hope that everybody in the House will support the amendments. They will result in greater protection, clarity, accountability and transparency for consumers.