Insurance Act, 1989

../../../../../images/harp.jpg

Number 3 of 1989

INSURANCE ACT, 1989

ARRANGEMENT OF SECTIONS

Preliminary and General

Supervision of Insurers

11.	Submission and publication of returns and documents by insurers.
12.	Regulations regarding reserves, liabilities, valuation of assets, reinsurance cessions and solvency certificates.
13.	Keeping of records by undertakings.
14.	Separation of assets and liabilities attributable to life assurance business.
15.	Application of assets of undertaking transacting life assurance business.
16.	General powers to require information.
17.	Investigations.
18.	Powers to intervene in cases of doubtful solvency.
19.	Prior notice and display of policy terms and premium rates.
20.	Qualifications of directors, managers and authorised agent.
21.	Revocation of authorisation where no business is being done.
22.	Reinsurance.
23.	Minimum share capital requirements.
24.	Power to attach conditions to authorisations.
25.	Industrial assurance business.
26.	Insurance of unnamed persons.
27.	Application of Act of 1978.
28.	Amendment of Friendly Societies Act, 1896.
29.	Application of exemptions in the 1976 and 1984 Regulations on life and non-life insurance.
30.	Winding up of insurers.
31.	Insurance Compensation Fund.
32.	Preferential payments of debts out of technical reserves of undertaking.
33.	Administrator's power of sale.
34.	Appointment, duty and qualifications of actuary.
35.	Duties of auditor.
36.	Powers of Court with respect to amalgamation or transfer of insurance business.

Payment of Commissions by Insurers

37.	Power of Minister to require reduction in commissions.
38.	Prohibition of certain commission payments.
39.	Revocation of authorisation.
40.	Restriction on advertising.
41.	Offences committed by intermediaries.
42.	Certain policies of life assurance voidable.
43.	Furnishing of information to the Minister.

Regulation of Insurance Intermediaries

Miscellaneous

58.	Appeal against suspension or revocation of authorisation.
59.	Appointment of authorised officers.
60.	Powers of authorised officers.
61.	Codes of conduct on duty of disclosure and warranties.

Enactments Repealed

Increase of Penalties

Acts Referred to
Assurance Companies Act, 1909	1909, c. 49
Central Bank Act, 1971	1971, No. 24
Companies Act, 1963	1963, No. 33
Credit Union Act, 1966	1966, No. 19
Friendly Societies Act, 1896	1896, c. 25
Insurance Act, 1936	1936, No. 45
Insurance (Amendment) Act, 1938	1938, No. 31
Insurance Act, 1964	1964, No. 18
Insurance (Amendment) Act, 1978	1978, No. 30
Insurance (No. 2) Act, 1983	1983, No. 29
Life Assurance Act, 1774	14 Geo. 3, c. 48
Life Insurance (Ireland) Act, 1866	29 & 30 Vict. c. 42
Public Offices Fees Act, 1879	1879, c. 58
Transport (Tour Operators and Travel Agents) Act, 1982	1982, No. 3

../../../../../images/harp.jpg

Number 3 of 1989

INSURANCE ACT, 1989

AN ACT TO AMEND AND EXTEND THE INSURANCE ACTS, 1909 TO 1985. [15th March, 1989]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: