News

The attached was submitted in response to the Public Consultation on Revision of Death Registration Process from the Department of Social Protection https://www.gov.ie/en/consultation/aa3b2-public-consultation-on-revision-of-death-registration-process/

Value for Money in Life Insurance Savings

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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.

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:

The Central Bank of Ireland has published a feedback statement on Consultation Paper 92 Domestic Actuarial Regime and related Governance Requirements under Solvency II.

The consultation period closed on 29 May 2015.