Michael Healy-Rae (Kerry, Independent)
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124. To ask the Minister for Finance his views on an insurance company (details supplied) not issuing quotations without an Eircode reference; and if he will make a statement on the matter. [7219/16]

Michael Noonan (Limerick City, Fine Gael)
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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 willing to accept and adequate provisioning to meet those risks. 

As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, may interfere in the provision of insurance products. 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, which represents the insurance industry in Ireland, has informed me that insurance companies make their own decisions on whether to offer cover and what terms to apply. With regard to the Eircode issue, I am advised that insurance companies have different criteria for underwriting purposes and they can decide what information they require before providing a quotation or cover.