Shane Ross (Dublin Rathdown, Independent) | Oireachtas source

I do not think the Deputy is interested in intellectual pursuits. I will address those issues further in another place.

I will now address the issue of insurance, about which the Deputy asked. The Minister of State, Deputy Griffin, and I met with representatives of Insurance Ireland to highlight and discuss some of the difficulties being experienced by the sector, some of which the Deputy referred to a few minutes ago.

With regard to the failure to pay out under business interruption cover, which is one of the big problems, policies are not designed to cover pandemics. The Deputy will be aware of this. Insurance works on the basis that only a small percentage of clients make claims. Paying for a pandemic would, unfortunately, require payments to as many as 100% of clients in certain categories. No insurance company could remain solvent were it to pay out to 100% of its clients. Companies can only pay out where pandemics are specifically covered by the policy. This is only the case for a small number.

Insurance Ireland has made a commitment that, where businesses are closed and this has changed the level of cover required, a pro ratarebate will be given in the form of cash. It has asked insurers to sign up to this measure and expect it to happen. Chief executive officers say the number of inquiries is actually low and that there have been no rejections of applications to adjust cover that is not required during closure.

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