Sinn Féin Finance spokesperson Pearse Doherty TD has welcomed news this morning that An Taoiseach Leo Varadkar has signed the money message for his Consumer Insurance Contracts Bill which is designed to bring the insurance industry to heel and reform the law in respect of insurance contracts.
This news comes just a day after Sinn Féin Leader Mary Lou McDonald criticised the Taoiseach at Leaders’ Questions in the Dáil for the two year delay to this legislation which received unanimous support in the Dáil at second stage, and days after the announcement that the European Commission is to undertake a formal investigation into Insurance Ireland’s data pooling system.
Speaking today Teachta Doherty said;
“The news that my legislation now has a money message is very welcome albeit two years late. It means that the legislation can now move to committee and remaining stages and, given its unanimous support in the Dáil at second stage, I expect it to pass all stages and be signed into law.
“It is beyond belief that the European Commission has had to step in to investigate Insurance Ireland’s data pooling system when it has been clear that insurers have been ripping off policy holders for years. The government could have and should have stepped in to deal with this issue but it decided not to.
“I have met with the Minister this week to discuss looking at ways to further strengthen the bill to deal with developments since the bill passed the Dáil two years ago.
“I will now push to have committee stage scheduled without delay so that we can accelerate the passage of this legislation into law.”