Government gives backing to consumer insurance contracts reform

The Consumer Insurance Contracts Bill, introduced by Sinn Féin TD Pearse Doherty (pictured) in January, passed the second stage in the Dáil last night and now proceeds to committee.

Mr Doherty said the content of the bill is based on recommendations made by the Law Reform Commission in a 2015 report.

Finance Minister Eoghan Murphy told TDs that the Government “is supportive in principle of the Bill and willing to engage constructively”.

However, he said the Government is “likely to submit substantive amendments on Committee Stage” and asked for the bill to be progressed slowly to allow for consultation with other departments.

Among other things, Mr Murphy said it would be necessary to engage with the Department of Justice “in order to ensure there are no unintended consequences on the broader contract law area”.

Mr Murphy also said the Government wanted to examine developments in EU law since the 2015 report, including the Insurance Distribution Directive which was agreed in 2016.