Martin Heydon (Kildare South, Fine Gael)
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164. To ask the Minister for Finance if a 1998 registered car can be insured here; the options open to a person who has been refused insurance for a car registered in 1998; and if he will make a statement on the matter. [22164/17]

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 review individual cases regarding cars registered in particular years nor to direct insurance companies as to the pricing level or terms or conditions that they should apply in particular cases.

I am advised that insurers use a combination of rating factors in making their individual decisions on whether to offer cover and what terms to apply. These rating factors can include the type and age of car, as well as the age, driving experience, claims record and penalty points of the driver, the number of drivers, how the car is used, etc. My understanding is that insurers do not all use the same combination of rating factors, and as a result prices and availability of cover varies across the market. In addition, insurance companies will price in accordance with their own past claims experience. 

The Deputy should note that Insurance Ireland operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance. Insurance Ireland can be contacted at feedback@insuranceireland.euor 01-6761914.