Noel Grealish (Galway West, Independent)
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63. To ask the Minister for Finance the steps he will take to stop the practice of Irish emigrants returning home being forced to pay exorbitant prices for car insurance, because their no claims bonuses have expired after just two years, even if they have had an impeccable driving record while away; and if he will make a statement on the matter. [7412/15]

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, the price at which it is offered and the expiring of no claims discounts 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.  Article 25 of S.I.  No. 359/1994  European Communities (Non-Life Insurance) Framework Regulations, 1994 expressly prevents the Central Bank from requiring the prior approval of the pricing, or terms and conditions of an insurance product. Consequently, I am not in a position to direct insurance companies to provide home insurance cover to specific individuals.  

I contacted Insurance Ireland in relation to this matter and they have informed me that in general terms where there has been no motor insurance in an individual s name and there is a gap of cover of two years or more since their last insurance, the no claims discount is deemed invalid and that in the case of a returning emigrant the same principle would apply. However, Insurance Ireland have further informed me that if the individual can produce confirmation that they have been continually insured and are claims free in their own name whilst they were away this would be taken into consideration.

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 .