Law review aims to clarify insurance cover

CONSUMERS will enjoy greater clarity on their insurance cover terms thanks to a new paper from the Law Reform Commission, says one industry expert.

Diarmuid Kelly, chief executive of the independent brokers group PIBA, said that the consultation paper on Insurance Contracts issued yesterday by the Law Reform Commission will lead to an underpinning of current good consumer practices.

The paper will also bring an end to any ambiguities that have previously left people with nasty surprises when an unexpected illness or other tragedy arises.

“While consumer protection has increased considerably over recent years with the advent of consumer protection codes supported by the development of industry best practice standards, it is also the case that insurance contracts have become increasingly complex,” Mr Kelly said.

“Reforming the law in the way that is being proposed in this consultation paper should bring much greater clarity and certainty around insurance contracts.”

Mr Kelly welcomed specific measures within the proposals in relation to life policies that would cover civil partnership, cohabitation and other relationships.

Mr Kelly went on to say that the PIBA would be examining all of the proposals in detail and following that would submit to the Law Reform Commission a paper based on the expertise and experiences of its 870 members firms.