Government shelves rescue fund for bailed-out insurers that could have led to costly levy
The state now plans to help shape a European proposal aimed at protecting policy holders in the event of an insurer going to the wall
A government department has shelved plans to introduce a new rescue fund for bailed out insurers, which could have led to consumers being hit with another costly levy.
Last year, the Department of Finance sought feedback on a proposal to set up the National Resolution Framework for insurers and reinsurers.
The proposed framework sought to ensure that policyholders, taxpayers’ money and critical insurance services would be protected, and financial stability maintained, in the event of ...