The Central Bank of Ireland (‘CBI’) has published updated guidance on the Consumer Protection Code 2012 (‘Guidance’).

The primary clarification in the Guidance for insurers relates to rebates. The CBI considers that the inclusion of a policy condition that rebates will not be refunded to the consumer and additional premiums will not be sought from a consumer (under specified levels), is not prohibited under the Code. The Guidance further clarifies that any insurance intermediary must obtain prior written agreement from the consumer every time it intends to deduct any charges from a premium rebate.

Additionally, there are clarifications regarding email as a durable medium, unsolicited contact practices and regulatory disclosure requirements in electronic advertising.

The CBI has issued a number of other notable publications in recent months, including:

• The CBI’s Fourth Quarterly Bulletin of 2012 (October 2012)
• The CBI’s Strategic Plan 2013-2015 (November 2012)
• A consultation paper on proposed reforms to the calculation of levies (November 2012)
• The Insurance Statistical Review 2009 and Insurance Statistics 2010 (December 2012)
• The latest edition of Solvency II Matters  (January 2013)
• A ”Dear CEO” letter outlining the CBI’s view on best practice for the distribution of life-assurance products on a cross-border basis