Sunday May 31, 2020

New Ireland Assurance fined over consumer breaches

Firm gave incomplete information to customers, says Central Bank

18th July, 2016
Central Bank raps New Ireland Assurance

The Central Bank has reprimanded New Ireland Assurance Company and fined it €650,000 for two breaches of the Consumer Protection Code.

The Central Bank’s director of enforcement, Derville Rowland, said financial firms were required to provide certain information to consumers on at least an annual basis, to enable them to analyse the performance and value of their investments. "As the firm was not providing all such information to consumers, the Central Bank brought this enforcement...

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