Mattie McGrath (Tipperary, Independent)
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123. To ask the Minister for Finance if he will address concerns that some of the major insurance providers and company underwriters are not prepared at the moment to cover properties that have unemployed tenants; and if he will make a statement on the matter. [3869/17]

Michael Noonan (Limerick City, Fine Gael)
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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, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products.  Consequently, I am not in a position to direct insurance companies to provide cover to properties that have unemployed tenants . 

Notwithstanding this, the Deputy should note that I do have concerns about such practices which seem inherently unfair and inappropriate. Consequently, I  have asked  my officials to contact the Departments of  Housing, Planning, Community and Local Government and Social Protection to get their views on this matter.  In addition, I have asked my officials to raise the matter with Insurance Ireland in order to get a better perspective and understanding of this issue.