Willie Penrose (Longford-Westmeath, Labour)
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Question 222: To ask the Minister for Finance the position whereby a person who secured a loan, and who had a particular health difficulty in the past, which is now resolved, cannot obtain mortgage protection insurance; and if insurance will be provided; and if he will make a statement on the matter. [12676/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy is aware, in my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. However the day-to-day responsibility for the supervision of financial institutions is a matter for the Financial Regulator which is statutorily independent in the exercise of its regulatory functions.

In relation to the Deputy's specific question, the Financial Regulator has informed me that it cannot compel insurers to quote for business for mortgage protection insurance. The decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter based on the assessment an insurer will make of the risks involved. If a consumer feels that he or she has been unfairly treated by an insurance company, he or she can make a complaint to the insurance company using the insurance company's formal complaints system. If the consumer is dissatisfied with the outcome of his or her complaint he or she can then refer the matter for further investigation to the Financial Services Ombudsman.