Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

On one of the points Senator Barrett made, in some jurisdictions the concept of having mortgage protection insurance, for payment as opposed to where somebody dies, is mandatory. Canada is one such jurisdiction. As a result, it did not have a property bubble because the affordability and valuations of properties were triangulated whereby the insurance companies would not stand over insuring a loan if they thought the property was overvalued. Would Mr. Brown hold a view that, as we learn these lessons, a similar approach should be considered whereby it would be mandatory to have mortgage protection insurance for payment, which would also give the State an insulated period of time before it would have to make an intervention?