The Irish Brokers' Association (IBA) says it will lobby strongly against any requirement to disclose commissions on general insurance business. General insurance is like any retail product and asking brokers to disclose commissions would be like asking retailers to disclose their margin on every product IBA chief executive, Mr Paul Carty, has said.

However, because life business involves investment and policies where investors expect a return, the IBA supports proposed legislation for full disclosure of commissions and other costs.

In a related development, rules setting the maximum level of commissions that insurance companies can pay brokers who sell general insurance have been lifted, without any requirement to disclose to consumers commissions paid. Regulations to require the disclosure of commissions is expected in due course.