Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The most likely situation is that somebody loses his or her job or encounters financial difficulty, and the mortgage falls into arrears. Under what circumstances can the insurance be invoked to help that person?

Genworth mentions in its presentation that it has paid out in some cases where mortgages are restructured. We all understand that if the loan gets into trouble and the house is repossessed and there is a shortfall the bank can invoke the insurance. In day-to-day terms, however, if the mortgage gets into difficulty and arrears what kind of help is available through the insurance scheme for the borrower?