Oireachtas Joint and Select Committees

Tuesday, 23 March 2021

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector: Engagement with Bank of Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Does Ms McDonagh acknowledge that the insurance company that she operates has changed its policy, does take this into account and does not grant mortgage protection insurance if a person has had a Covid symptom over the past three months? It is in black and white on the website. Underlying conditions are also being factored in. Those with conditions that were never factored in in the past, for example, diabetes and obesity, are now being refused mortgage protection by insurance companies such as New Ireland Assurance, and a wide range of others. These are families who have saved for years to get a deposit for a house, and who have got approval to draw down a mortgage. Now, however, the pandemic is being used to state they are riskier applicants and therefore cannot fulfil their legal requirement to get insurance. This is connected. These companies are owned by the likes of Bank of Ireland.

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