Niall Collins (Limerick County, Fianna Fail)
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238. To ask the Minister for Finance if he will provide an update on any help or initiatives being undertaken to help owners of thatched properties get insurance for these properties; and if he will make a statement on the matter. [57362/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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While neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups across the State.

The whole-of-Government approach being taken through the Action Plan for Insurance Reform sets out 66 actions, which aim to improve both the cost and availability of this key financial service. The recently published third implementation report shows that 90 per cent of these actions are now being delivered.

The Deputy may be aware that the Department of Housing, Local Government and Heritage is currently undertaking a consultation into thatched properties and that insurance will form part of this. Owners of thatched buildings have been invited to contribute to the study and it is scheduled to conclude by the end of 2022. Any queries relating to this should be directed to the Department of Housing, Local Government and Heritage and my officials will continue to liaise closely with their counterparts on the issue.

As part of the effort to increase competition, the Department of Finance is working closely with the IDA to bring new entrants into the Irish insurance market, including in areas which have been identified as ‘pinch-points’ where capacity issues exist. The IDA will seek to leverage the achievements of the Government insurance reform agenda to date. Separately, my officials have informed me that there are insurance companies and brokers that currently offer cover for thatched properties, and that others are considering entering the market. We will continue to monitor developments in this area.

Finally, I would like to take this opportunity to assure the Deputy that securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland, including for thatched properties, remains a key policy priority for this Government.