News

Response to HIA Consultation on community-rated health insurance market in Ireland and proposed changes to the Risk Equalisation Scheme [which is in response to this HIA consultation].

Value for Money in Life Insurance Savings

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The Society has today issued a press release on Ireland's Risk Equalisation system following its healthcare seminar today which brought together international and domestic experts to discuss how cross subsidies in the health insurance market can be modified in the future.

Click here to read the full press release

The Central Bank of Ireland has published S.I. 392 of 2017, which amends the Life Assurance (Provision of Information) Regulations 2001. The Life Assurance (Provision of Information) Regulations (Amendment) Regulations 2017 amend Regulation 7 of the Life Assurance (Provision of Information) Regulations 2001 due to the coming into effect of the EU Regulation on key information documents for packaged retail and insurance-based investment products (the PRIIPs Regulation) on 1 January 2018.

The Society made a submission to the recent Health Insurance Authority consultation on Lifetime Community Rating, and has issued a press release which highlights the key finding in the submission.  

The growth in ‘Average Private Health Insurance Premiums’ in Ireland has consistently outstripped economic growth over time and is expected to continue to be in excess of economic growth in the future.  This is one of the conclusions in an analysis published today (Nov 10, 2016 ) by the Society.

Read the full paper here.

The press release is available here.

Parliament’s Economic and Monetary Committee rejected as “misleading” and flawed, proposals aimed at providing greater protection to consumers buying packaged financial products, and unanimously voted to send the proposals back to the European Commission.

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) has finalised its proposal for regulatory technical standards (RTS) on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs). 

The European Insurance and Occupational Pensions Authority (EIOPA) published today a potential macroprudential approach to the low interest rate environment in the Solvency II context.
The aim of this publication is to contribute to the discussion on the possible need to develop a macroprudential framework in the insurance sector to promote financial stability in a Solvency II environment.
 
The following three objectives to be targeted by supervisory authorities in the current low interest rate environment are addressed: