John Moloney (Laois-Offaly, Fianna Fail)

I do not think the provision stifles competition, nor does it interfere with it. In fact, it does the opposite, and protects the consumer, who is given ample opportunity to check out the product. I must point out that in no other market do we have community rating. That is the current position.

To provide further clarification, the primary purpose of the clause is to support the effective operation of community-rated insurance as it prevents insurance companies from introducing products that are available only to specific consumers and not to the broader public. Removing the subsection to facilitate such practice would not be in the best interests of the consumer.

If a product were introduced in the absence of the 31-day limit, or even a shorter limit, the sharks in the industry would be first in and the ordinary consumer would not have the opportunity to be aware of the product or its benefits. I again underline the fact that there is no other market that has community rating and the provision is there to provide protection in this regard.