Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister for that and ask that he would also raise it in his engagements with the insurance industry. Indeed, some of the banks own some of the insurance companies providing mortgage protection insurance. Bank of Ireland, for example, has its own insurance company, which is not providing mortgage protection cover to anybody who had symptoms of Covid-19 over the past three months. It is putting those applications on hold for at least a month. The provision in section 126 exists for a reason. It does not exist in Britain, for example, but I believe it is important because it provides protection for families. As the Minister said, however, there is provision for exemptions and that needs to be used, particularly in cases where families thought they had bought their house. They paid their deposit and knew that the mortgage had been approved but they fell at the very last hurdle. Not only did they fall, they lost the house and the deposit. The law allows banks to make an exemption and that must be impressed upon them. I encourage the Minister to engage with the banks on this matter and urge the Minister of State, Deputy Fleming, to engage with the insurance industry on it. The Oireachtas Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach has written to the banks and insurance companies on the matter.

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