Pearse Doherty (Donegal, Sinn Fein)
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85. To ask the Minister for Finance the impediments to an Irish driver seeking motor insurance from an insurance company operating in another EU state; and if he will make a statement on the matter. [13875/16]

Michael Noonan (Limerick City, Fine Gael)
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The provision of motor insurance cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting and the making of adequate provisioning to meet these risks. In my role as the Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation.

The current legal and regulatory framework for the provision of insurance in the European Economic Area (EEA), and the supervision of that activity, is prescribed by European Union Law in the Life and Non-Life Insurance Directives or Solvency II. The provision of insurance throughout the EEA on a freedom of services basis and a freedom of establishment basis (i.e. a branch) within this framework is predicated upon the absence of internal market frontiers and the mutual recognition of the authorisation of insurance undertakings by Member States.  Therefore, in general terms, there should be no impediment to an Irish driver seeking motor insurance from an insurance company operating in another EU Member State.  It should be noted, however, that it is up to each insurance company to decide on which jurisdictions or locations in which it will underwrite insurance risk.  Insurance companies would generally operate in jurisdictions where they are familiar with the market.

Many insurance companies which are authorised in other EU Member States sell insurance into Ireland.  I am informed by the Central Bank of Ireland that any EU authorised undertaking wishing to offer motor insurance in Ireland is allowed to do so subject to complying with the local 'general good' requirements for motor insurance. These 'general good' requirements include membership of the Motor Insurers' Bureau of Ireland (MIBI) and being a signatory to the Declined Cases Agreement operated by Insurance Ireland.  Both Irish authorised and EU authorised undertakings are required to comply with these requirements. Other EU Member States will have their own but similar 'general good' requirements for motor insurance.

The Central Bank informs me that there are currently approximately 15 Irish authorised undertakings and a further 22 EU authorised undertakings offering motor insurance cover in Ireland.  The full list can be accessed at .