Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Committee Stage.

 

The Minister of State, Deputy Gallagher, in responding to the previous amendment, spoke of the old days when insurance salesmen visited houses armed with sheaves of paper on which they wrote people's details. As a result, up to 500,000 policies are still on paper. He contrasted that with the modern salesman who comes equipped with a laptop and a modern way of doing things. Despite this, we still insist on this old fashioned way of informing members of the public of the issue of unclaimed policies by placing notices in Iris Oifigiúil and two newspapers. This presumes everyone either buys or reads these publications. There are many newspapers in circulation in Ireland, some of which are not Irish. Some people who read tabloids would never be likely to come across the notices if they were placed in the publications mentioned.

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