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Circular No 07/29
General PHIAC Circulars
Circular No 07/29Contact Officers: Replaces Circular: NA3 December 2007 |
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REVISED MANAGING SUPERVISION AND INTERVENTION GUIDELINES
PHIAC has revised the Managing Supervision and Intervention Guidelines to reflect changes made to PHIAC’s objectives, functions and powers through the introduction of the Private Health Insurance Act, 2007.
The Guidelines set out the framework for PHIAC to supervise the industry and to encourage or compel insurers’ compliance with the Private Health Insurance Act and the related Rules.
The Guidelines are a key component of PHIAC’s ‘no-surprises’ approach to regulation and identifies:
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the manner in which PHIAC will conduct its regulation of the private health insurance industry
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PHIAC’s expectations of insurers
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the powers available to PHIAC
The principal changes to the guidelines are:
- 8 levels have replaced the 7 steps
- a new Level 4 has been included to reflect PHIAC’s capacity to impose Council-supervised obligations and request Written Undertakings from insurers
- each level provides general guidance
The Guidelines are available on the PHIAC website