The Irish Brokers' Association has described as "overkill" a call by the Consumers' Association of Ireland for the Central Bank to force brokers accepting inducements from insurance firms to tell customers of their terms. "The Consumers' Association has over-reacted and has shown no sense of perspective in relation to this matter," said Mr Paul Carty, chief executive of the IBA. "It's a form of marketing spend and it is revealed at the point of sale. We fully appreciate and understand a need to allay consumer fears but we have brought in a voluntary disclosure regime in which every cent of the policy that is not used in cover, such as expenses and charges, is disclosed at the point of sale and in the cooling-off notice after the sale."

Mr Carty said the stance being taken by the Consumers' Association was at odds with an earlier one claiming that details requested by insurance brokers were too comprehensive.