S.I. No. 336/2020 - Central Bank (National Claims Information Database) Regulations 2020

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 8th September, 2020.

In exercise of the powers conferred on it by sections 6 (3) and 7 (1) of the Central Bank (National Claims Information Database) Act 2018 (No. 42 of 2018), the Central Bank of Ireland, after consultation with the Minister for Finance and having had regard to the relevant matters, hereby makes the following regulations:

Citation and commencement

1.

• (2) These Regulations shall come into operation on 30 September 2020.

Interpretation

2.

“Act of 2018” means the Central Bank (National Claims Information Database) Act 2018 (No. 42 of 2018);

“Member State” means a Member State of the European Union and, where relevant, includes a contracting party to the Agreement on the European Economic Area signed at Oporto on 2 May 1992 (as adjusted by the Protocol signed at Brussels on 17 March 1993), as amended;

“Regulations of 2015” means the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I No. 485 of 2015 );

“Regulations of 2019” means the Central Bank (National Claims Information Database) Regulations 2019, ( S.I. No. 174 of 2019 ).

• (2) A word or expression used in these Regulations has the same meaning in these Regulations as it has in the Act of 2018.

Relevant classes of non-life insurance

3.

Risks based in the State

4.

• (a) in respect of a building in the State or, if a building and its contents are covered by the same policy, in respect of the building in the State and those contents,

• (b) in respect of a vehicle of any type that is registered in the State, or

• (c) in any other case, unless the risk is in respect of a building or its contents that is situated in another Member State or a vehicle that is registered in another Member State, a risk where –

• (i) if the policy holder is an individual, the habitual residence of the policy holder is in the State, or

• (ii) if the policy holder is not an individual, the establishment of the policy holder to which the policy relates is in the State.

Revocation of Regulation 4 of the Regulations of 2019

5.

Signed for and on behalf of the CENTRAL BANK OF IRELAND

3 September 2020

GABRIEL MAKHLOUF,

Governor of the Central Bank of Ireland

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation)

The purpose of these Regulations is to specify additional relevant classes of non-life insurance and the circumstances in which risks falling within the relevant classes of non-life insurance are to be regarded as risks based in the State, for the purpose of the Central Bank (National Claims Information Database) Act 2018 (No. 42 of 2018). The objective is, principally, to extend the scope of the National Claims Information Database to include employers’ liability insurance and public liability insurance; in order to enable a more complete view of those types of insurance, certain non-liability elements of commercial insurance will also be included.