Gerry Adams (Louth, Sinn Fein)
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Question 73: To ask the Minister for Finance if there are any regulations in relations to the premium or other charges or fees charged by companies for Life Protection policies; if there any limits sent by the Financial Services Regulatory Authority and or the Central Bank of Ireland in relation to the increases in premiums or other chargers; and if he will consider introducing such regulations or guidelines. [25731/12]

Michael Noonan (Limerick City, Fine Gael)
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I, as Minister for Finance have no statutory role in relation to the premium, charges or fees for life protection policies. These are commercial decisions for the various insurers themselves. However, the Central Bank's Consumer Protection Code contains provisions which impose obligations on regulated entities, including those offering life protection policies, in relation to the disclosure of charges. Regulated entities are required to make full disclosure of all relevant material information, including all charges, in a way that seeks to inform the consumer. In addition, the 2001 Life Assurance (Disclosure of Information) Regulations contain requirements for product disclosure, including the disclosure of intermediary remuneration.