CICA – Reminder Provisions commencing September 2021July 2021
The Consumer Insurance Act 2019 was signed into law in December 2019 and while some provisions came into force in 2020, some were deferred until September 2021. As we are fast approaching that date here is a reminder of the key provisions that are due to come in to force later this year.
Sections 8,9, 12 and 14 (1) to (5) will come into effect from 01.09.2021.
Section 8 focuses on the duty of disclosure. Insurers must ask specific questions to their customer or potential customer, and these must be answered “honestly and with reasonable care”.
Section 9 covers the remedies available in the case of misrepresentation based on whether this was innocent, negligent or fraudulent.
Section 12 places extra duties on insurers at renewal for example for non-life contracts, insurers must provide a schedule of all premiums and claims paid for the preceding 5 years.
Section 14 (1) to (5) covers disclosure duties at renewal.
Links to articles on the new provisions:Brokers Ireland CICA 2021 AL Goodbody Provisions commencing Sept 2021Previous Article 2020