Types of Insurer There are separate schemes of authorisation and regulation for life and non-life insurance. The differences in the risks and nature of the business have justified separate legislation. Both are regulated by the Central Bank and contain many common features. In each case, Irish regulations made under the European Communities Act implement the […]
Regulation Insurance companies, brokers and agents operate under the same broad scheme of regulation, as financial advisors and other financial product sellers. There are European-wide standards applying. The Central Bank, now the Central Bank is the insurance industry regulator. See the sections on financial services regulation. Insurance companies must be authorised by the Central Bank […]
Monies Received The Consumer Protection Code applies to insurance in common with other consumer financial services. Insurance brokers are subject to much the same regulation and requirements as other financial and investment intermediaries. An insurance intermediary must lodge money it receives in respect of a premium in a segregated client premium account. It must operate […]