Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Second Stage.

 

A serious case can be made to improve the way in which one can claim moneys due after they have been transferred. In so far as I can tell, there is no power in the Bill for an individual claimant, or someone who thinks he or she might have a policy, to inspect the register. It is not a question of whether the register is kept in hard copy or electronic format – one cannot check the register that includes other names. I accept a balance must be struck and that private information should not be shared with those who have no direct interest in it. Senator Quinn raised an interesting point. It is surely possible for individuals to check electronically whether they have funds held by an assurance company or which have been transferred to the NTMA.

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