Eamon Ryan (Dublin South, Green Party)
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Question 116: To ask the Minister for Finance if he has had discussions with the Department of Social and Family Affairs regarding the absence of a source of recourse for employees in the event of a dispute between an employer and an employee under an income continuance scheme leaving employees uncovered by a regulator or ombudsman. [19213/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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My Department received correspondence on this issue yesterday from the Department of Social And Family Affairs and will be arranging discussions on the issues raised in relation to income continuance plans.

The Deputy may be interested to note that Insurance Undertakings providing income continuance policies are regulated by the Financial Regulator. As such the provisions of the proposed Consumer Protection Code will apply to the sale of such policies. The code will issue in July and will take effect shortly thereafter. At present the Interim Code of Practice for Insurance Undertakings and the Handbooks for Multi Agency Intermediaries and Authorised Advisors apply to the sale of all insurance products, including income continuance policies.