Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

I welcome the Code of Practice for Underwriting Mortgage Protection Insurance for Cancer Survivors announced last year by Insurance Ireland and its members. This important development will provide a ‘Right to be Forgotten’ for cancer survivors, meaning insurers will disregard a cancer diagnosis where treatment ended more than 7 years prior to application (or more than 5 years, if the applicant was under 18 at the time of diagnosis).

The Code of Practice is an important step in helping to address the issue of access to financial services, and the concept of the ‘Right to be Forgotten’, for individuals who have recovered from cancer. Minister of State Carroll MacNeill and I previously met with senior representatives of the industry and pressed the importance of this issue, and the significance that Government places upon it. I have also met with the Irish Cancer Society and discussed the issues cancer survivors encounter and its ‘Right to Be Forgotten’ proposal.

The Code of Practice officially came into force on 6 December 2023. The Government will be closely examining the impact of this initiative, in order to ensure that it delivers the desired outcomes and improves access to mortgage protection insurance for customers who have recovered from cancer.

My officials have contacted Insurance Ireland in relation to the Deputy’s question regarding the external review process for the Code of Practice. It has advised that the external review will look to evaluate the implementation of the Code since 6 December 2023. It will ensure that insurance firms who have signed up are following the commitments as set out in the Code and the relevant processes and systems have been updated accordingly.

According to Insurance Ireland, the review will also seek evidence of applicants who fall within the parameters of the Code to ensure they are receiving the full benefit of its application. I understand that the review process to ensure independent oversight of the Code, will be put out to tender towards the end of this year. My Department will continue to monitor this.

In addition to considering the implementation of the Code of Practice, the Department of Finance is also closely monitoring ongoing developments at EU-level regarding access to financial services for cancer survivors, including the European Commission's proposal to develop a code of conduct under ‘Europe’s Beating Cancer Plan’. This work, which represents an important contribution to this sensitive issue, is currently expected to be finalised in Q1 2024.