The Gazette 1991

a p r i l 1991

g a z e t t e

where the premium relates to a renewal of a policy invited by the insurance company or in respect of a proposal accepted by the insurance company. However, such deerqed receipt will not apply where the insurance company has given reasonable notice in writing directly to the client that the broker or agent has no authority to collect the premiums on behalf of the insurance company. Procedure for acceptance of insurance proposals An insurance broker or agent may not accept money from a client in respect of a proposal unless it is accompanied by a completed proposal form or the proposal has already been accepted by the insurance company or in the case of a renewal of the policy of insurance unless it has been invited by the insurance company. Whenever a broker or agent accepts a completed insurance proposal or a renewal premium, he must give to his client a document indicating that it was given under Section 52 of the Act and specifying the name and address of the client, the amount involved and the date of its receipt by the broker or agent, the particular proposal or renewal in respect of which it is paid and the insurance company involved. A suggested format for this receipt may be obtained from the IICB. Such a document shall be prima facie evidence of the facts set out therein. The requirement to issue such a document does not apply where the broker or agent has authority to and does issue the actual policy of insurance. Code of Conduct Finally, it should be noted that it is the express intention of the Minister to foster and encourage the representative bodies in the State for insurance brokers and, in that regard, Section 56 is relevant. Pursuant to these provisions, the Minister has approved a Code of Conduct to be observed by insurance brokers and agents copies of which may be obtained from the IICB. This Code of Conduct must now be displayed in a prominent position in the public area of an intermediary's business premises. •

by the intermediary i.e. life or non-life. It is to be noted that no person including the State has any right of recourse against money standing to the credit of either such client account until all proper claims by clients in respect of such monies The requirements, detailed above, in regard to the keeping of separate bank accounts do not apply to what is referred to as " t i ed insurance agents". A tied insurance agent is one who has undertaken with a particular insurance com- pany to refer all insurance pro- posals to that Company or who has entered into an arrangement with an insurance company which restricts his freedom to refer insurance proposals to other insurance companies. A tied insurance agent may only offer contracts with one life and with one non-life insurance company. The insurance company will henceforth be responsible for acts and omissions of its tied insurance agents in relation to policies taken out with that Company as if the tied insurance agent was an employee of the insurance company. Agent of Insurance Company in Certain Cases A significant alteration to the law of agency has been effected by Section 51 which provides that an insurance agent will be deemed to be acting as agent of the insurance company when he completes in his own handwriting or assists the proposer of an insurance policy to complete a proposal for insurance and in such circumstances, the "Section 51 provides that an insurance agent will be deemed to be acting as agent of the insurance company [in certain circumstances]." insurer will be responsible for any errors or omissions in the com- pleted proposal form. Deemed receipt by Insurance Company of Premiums An insurance company will be deemed to have received a premium paid to a broker or agent have been satisfied in full. Tied Insurance Agents

JESSUP MOOT REGIONAL FINAL

The Irish final of the Philip C. Jessup Moot Court Competition recently took place in Trinity College, Dublin. The two regional finalists were the Kings Inns and the Solicitor's Apprentices Debat- ing Society of Ireland. The format of the competition was that teams were asked to consider a fictional situation based on the U.S./Japan trade controversy concerning car imports. The dis- pute involved issues of jurisdiction, anti-trust law and the application of the General Agreement on Tarrifs and Trade. Both teams had to sub- mit detailed written submissions, which accounted for approximately 30% of the marks awarded. SADSI represented Japan and the Kings Inns, the U.S.A. before a court composed of the Hon. Niall McCarthy of the Supreme Court, John Cooke, S.C. and Alpha Connolly, lecturer in international law in U.C.D. Yvonne McNamara and T.P. Kennedy argued the SADSI case and Maura McNally and Mick Delaney appeared for the Inns. After a hard fought contest, judgement was given in favour of SADSI. The winning team will represent Ireland in the international semi- finals which will be held shortly in Washington D.C. Approximately 40 other national teams will be par- ticipating. The full SADSI team is: Yvonne McNamara (Matheson Ormsby Prentice), Donagh McGowan, Judith Lawless, T. P. Kennedy and Tom Hallinan (all of McCann FitzGerald). •

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