Written answers
Thursday, 11 December 2014
Department of Finance
Insurance Coverage
Robert Troy (Longford-Westmeath, Fianna Fail)
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67. To ask the Minister for Finance the mechanism in place where a person has been refused home insurance by a number of brokers. [47555/14]
Michael Noonan (Limerick City, Fine Gael)
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In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are accepting and adequate provisioning to meet these risks. These are considered on a case by case basis and it is important to be clear that neither the Government nor the Central Bank has any influence over this matter. Consequently I am not in a position to direct insurance companies to provide home insurance cover to specific individuals.
Insurance Ireland operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance. Their service can be contacted at (01) 676 1914 or by email at .
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