Report of the Pecuniary Loss Working Party

Document description

This paper describes the recent work of the Pecuniary Loss Working Party (PLWP). Section 2 provides the context for the recent work and describes the reasons for examining creditor covers at this time. Section 3 contains the results of our recent market survey into Mortgage Indemnity Guarantee ('MIG') issues. This survey is based on responses not just from MIG insurers, but also from intermediaries and mortgage lenders. An overview of the recent history of creditor covers is provided in Section 4. This is an important element of background to the next section. Section 5 covers the possible provision of some unemployment benefit by private sector insurance arrangements.