Eoin Ó Broin (Dublin Mid West, Sinn Fein)
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151. To ask the Minister for Finance his views on the practice whereby car insurers charge different premiums on the basis of postcode, resulting in charge variations of hundreds of euro for car owners who live only minutes apart; if this practice is lawful; if not, the actions he will take on the issue; and if he will review the matter to make such practices illegal in view of the fact that they are discriminatory. [37894/17]

John Curran (Dublin Mid West, Fianna Fail)
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186. To ask the Minister for Finance if his and the cost of insurance working group's attention has been drawn to the significant variations in motor insurance premiums being charged by insurance companies depending on the location in which a person is living in Dublin (details supplied); if the working group will address these practices; and if he will make a statement on the matter. [38189/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 151 and 186 together.

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 in relation to the pricing level or terms or conditions that should be applied. 

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.  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, and the location where it is normally stored 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.eu or 01-6761914.