The Consumer Insurance Contract Act 2019 (CICA) was signed into law on 26 December 2019 and came into effect in two phases; the first sections from 1st September 2020 and sections 8, 9, 12 and 14 (1) to (5) applying from 1st September 2021.
As a result, all changes will apply to all New Ireland new Individual and Group Protection policies or renewals which become effective on or after the 1 September 2021.
What impact will CICA have on how we all do business?
CICA introduces new measures to reform and modernises the law of both life and non-life insurance and brings in significant changes to how consumer insurance contracts will operate in Ireland. In summary, CICA aims to simplify insurance contracts for customers. It provides increased protection to consumers and applies a consumer centric lens to insurance contracts.
As a result, this requires New Ireland to take on additional responsibility in respect of its consumer interactions at all key phases of the customer journey: quotation, on boarding, policy assessment and completion, premiums handling, claims handling, complaints and renewals.
New Ireland is supportive of these aims and the changes introduced by CICA and have taken all necessary steps to ensure compliance with this legislation.
CICA Information Pack
To support you in understanding CICA and the key changes that are effective from 1st September 2021, we’ve created a detailed CICA support pack that covers the following areas;
- Scope of the CICA Act:
- Pre-contractual Duty of Disclosure
- Proportionate remedies for misrepresentation
- Duties of consumer and insurer at renewal
- Key CICA requirements in force from September 2020
- New Ireland Changes from1st September 2021
- The Broker’s Obligations
- The Customer’s Duties
As required, New Ireland have reviewed and updated all relevant application forms and associated customer questionnaires to ensure we ask specific questions written in plain and intelligible language. This includes changes to some of our medical questions and the Declarations that your customers must complete.
New Ireland’s Online process will continue as normal. All the application screens and the corresponding copy of the application issued to the customer will contain the new CICA wording.
All revised application forms can be found in our Literature Library from 1st September 2021. All relevant policy conditions, important information documents and claim forms have also been updated to reflect our obligations under CICA.
All new applications input or submitted on or after 1st September must be completed on New Ireland’s updated CICA application forms. This includes all customer questionnaires, claim forms and declarations. This will ensure a smooth transition for us all in meeting the new CICA requirements
For further information or to answer any questions you may have on CICA, please contact your Account Manager.