EnactedStage in the legislative process — click for what it means43/2024Official bill number / year
Motor Insurance Insolvency Compensation Bill 2024
- Sponsor
- Minister for Finance
- Introduced
- 30 May 2024
- Last updated
- 15 Oct 2024
What this bill doesAI · claude-haiku-4-5-20251001
- Establishes Motor Insurance Bureau of Ireland as official Compensation Body to handle claims from motor accidents where insurers are insolvent, funded by Insurance Compensation Fund.
- Requires claimants receive compensation payment within three months of accepting offer; streamlines process so injured parties deal directly with Compensation Body rather than multiple liquidators.
- Requires Irish insurers selling motor policies across EU borders to contribute to Insurance Compensation Fund on 'home basis'; enables Minister to set contribution regulations and materiality thresholds for claim audits.
Stage timelineWhat do these stages mean?
- First Stage33rd Dáil30 May 2024
- Second Stage33rd Dáil13 Jun 2024
- Committee Stage33rd Dáil13 Jun 2024
- Report Stage33rd Dáil10 Jul 2024
- Fifth Stage33rd Dáil10 Jul 2024
- Second Stage26th Seanad26 Sep 2024
- Committee Stage26th Seanad26 Sep 2024
- Report Stage26th Seanad2 Oct 2024
- Fifth Stage26th Seanad2 Oct 2024
- Enacted8 Oct 2024
Debates
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