Sunday February 16, 2020

Central Bank should ‘share’ insurance regulation role

Business leaders have said the Competition and Consumer Protection Commission is a 'more natural fit for regulation' of the insurance sector from a consumer protection point of view

22nd September, 2019
Colette Twomey of Clonakilty Blackpudding was one of the business leaders who urged more balance and fairness in insurance claims Picture: Cathal Noonan

A group of Irish business leaders have called for the Central Bank to be partly stripped of its consumer protection mandate in response to the national insurance crisis.

An insurance sub-committee of the EY Entrepreneur of the Year alumni group, which includes hotelier Liam Griffin and Pat McDonagh of Supermacs, said the Competition and Consumer Protection Commission (CCPC) was a “more natural fit for regulation” of the insurance sector from a “consumer protection point of...

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