Pádraig Mac Lochlainn (Donegal North East, Sinn Fein)
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226. To ask the Minister for Finance if he is aware that citizens and residents of this State returning home after a period working abroad are not entitled to retain their no-claims bonus for the purpose of vehicle insurance and are forced to pay the full vehicle insurance cost; the action he will take to address this problem. [32769/15]

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 provision or pricing of insurance products.  The provision of insurance cover and the price at which it is offered, including the granting of no claims discounts, is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet these risks.  These are considered by insurance companies on a case by case basis.  

The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing, or terms and conditions of an insurance product.  

Insurance Ireland has 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. 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.  This service can be contacted at +353 1 676 1914 or by email at .