Éamon Ó Cuív (Galway West, Fianna Fail)
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113. To ask the Minister for Finance the steps taken to ensure that the loadings applied by insurance companies for previous accidents are proportionate particularly in which there is no driving or criminal conviction; and if he will make a statement on the matter. [44110/18]

Paschal Donohoe (Dublin Central, 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 as to the pricing level or terms or conditions that they should apply in respect of particular categories of drivers, including the loadings applied in the case of previous accidents. 

I understand that motor insurers use a combination of rating factors in making their individual decisions on whether to offer cover and what terms to apply.  Factors include, for example, the age and type of the vehicle, the age of the driver, the relevant driving experience, the claims record of the driver, the number of drivers and how the vehicle is used.  Furthermore, 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, they will price in accordance with their own past claims experience. 

Finally, Insurance Ireland operates a free Insurance Information Service to assist the public with any queries or complaints they may have in relation to insurance.  Insurance Ireland can be contacted at feedback@insuranceireland.eu or 01-6761914.