Jump to content

Draft:Life Insurance Association (Ireland)

From Wikipedia, the free encyclopedia

The Life Insurance Association of Ireland (LIA) is an educational body for those working in the financial sector.[1][2] According to the organisation’s website, its membership is comprised of individuals, life assurance companies, brokerages and credit unions.[3] It also devises accredited courses that are required to engage in certain activities as permitted by the Pensions Authority in Ireland.[4]

History

[edit]

In 1978, it was founded in Co. Cork, originally as a section of the Life Insurance Association (UK).[5] Other regions were subsequently established in Dublin, Waterford, Limerick and Galway.[1] By 1982, it possessed 12,000 members.[6] It was previously described by the Belfast Telegraph as "the main representative body" for the insurance and financial sector in Ireland.[7] In 1989, Brendan Glennon, a Dublin based financial broker, became the first person from Ireland to be elected president of the LIA for both the UK & Ireland.[8] It became fully autonomous and separate from the UK organisation in 1993.[1] In 1993, Eleanor Petrie became the first woman to be elected as LIA president in Ireland.[9]

The LIA performs educational talks and discussions on finance, insurance, and tax.[10][11][12] Among those who previously gave talks included Eddie Hobbs.[13] In 1983, it commissioned a book on financial literacy titled 'Safety in Numbers,' which was included in school libraries around Ireland.[14] At the 1983 LIA convention, Sean Barrett TD, then a Minister of State, urged "self regulation rather than government imposed solutions" as the way forward for the industry.[15]

In 2000, it launched a financial planning diploma, jointly with the Insurance Institute of Ireland.[16] The LIA also organised a joint lecture series with the affiliated Insurance Institute of Cork that year.[17]

As described in The History of Financial Planning: The Transformation of Financial Services, the creation of the modern-day Irish Qualified Financial Advisor (QFA) qualification originally involved the LIA, and, during the later years of the Celtic Tiger, it introduced the Certified Financial Planner (CFP) qualification into Ireland in conjunction with the Institute of Bankers in Ireland and University College Dublin (UCD).[18]

As of 2011, Senator Paul Coghlan was a member of the organisation.[19]

In 2024, it partnered with Childhood Cancer Ireland, in which members provided financial planning advice free-of-charge to the families of those affected by cancer in childhood.[20]

The LIA features in a case study in Contemporary Apprenticeship Reforms and Reconfigurations, published in 2019.[21] In EU Pensions Law, published in 2024, it was noted that a submission by the LIA recognised that Article 19(1)(d) prevented new, one-member pension schemes from being established once the IORP II Directive came into being, under a specific set of circumstances.[22]

As per the LIA website, it produces a quarterly magazine titled ‘The Advantage.’[23] It is one of several organisations that participates in the annual 'Pensions Awareness Week' in Ireland.[24]

References

[edit]
  1. ^ a b c "LIA Annual Convention". Munster Express. 9 October 1988.
  2. ^ Oireachtas, Houses of the (2015-05-07). "Joint Committee of Inquiry into the Banking Crisis debate - Thursday, 7 May 2015". www.oireachtas.ie. Retrieved 2025-01-03.
  3. ^ "Our History | LIA". www.lia.ie. Retrieved 2024-11-21.
  4. ^ Kavanagh, James (14 October 2016). "Quest for highest standards will bolster consumer trust". Irish Examiner.
  5. ^ "LIA History 1972-2004". From 1972 until 2004 LIA UK was a professional association for those who gave and supported financial advice. Retrieved 2024-11-21.
  6. ^ "Talks an introduction of insurance courses". Cork Examiner. 18 September 1982.
  7. ^ "Insurance Survey". Belfast Telegraph. 8 January 1991.
  8. ^ "On the Inside". Irish Independent. p. 4.
  9. ^ "First Lady for LIA". Irish Independent. 1 April 1993.
  10. ^ "LIA Talk". Belfast Telegraph. 30 April 1991. p. 47.
  11. ^ "Business Examiner". Cork Examiner. 9 August 1993. p. 17.
  12. ^ "Assurance buyers take cue from Taylor crux". Irish Independent. 13 March 1997. p. 33.
  13. ^ "Most Retired Rely on Help". Limerick Leader. 17 March 1990. p. 6.
  14. ^ "New project to explain insurance". Irish Independent. 20 January 1983. p. 4.
  15. ^ "Independent Property". Irish Independent. 23 September 1983. p. 23.
  16. ^ "Business". Irish Examiner. 30 June 2000.
  17. ^ "Ignore e-commerce at your peril". Irish Examiner. 7 January 2000.
  18. ^ Jr, E. Denby Brandon; Welch, H. Oliver (2009-09-17). The History of Financial Planning: The Transformation of Financial Services. John Wiley & Sons. ISBN 978-0-470-55379-4.
  19. ^ Donnelly, Seán (2012-01-21). Elections 2011. ISBN 978-0-9520197-8-7.
  20. ^ Hanley, Saoirse (20 May 2024). "Finances get stretched when a child gets seriously ill". Irish Independent.
  21. ^ Deißinger, Thomas; Hauschildt, Ursel; Gonon, Philipp (2019). Contemporary Apprenticeship Reforms and Reconfigurations. LIT Verlag Münster. ISBN 978-3-643-91114-8.
  22. ^ Bennett, Philip; Meerten, Hans van (2024-12-09). EU Pensions Law: A Commentary and Practitioner's Guide. Edward Elgar Publishing. ISBN 978-1-80220-022-5.
  23. ^ "The Advantage | LIA". www.lia.ie. Retrieved 2024-11-21.
  24. ^ "Pensions Awareness Week 2022". Nenagh Guardian. 24 September 2022.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Draft:Life_Insurance_Association_(Ireland)&oldid=1267055624"