Paul Murphy (Dublin South West, RISE)
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135. To ask the Minister for Finance if it is legal for insurance companies to refuse a person a policy based on a previous criminal record; and if he will make a statement on the matter. [37126/24]

Jack Chambers (Dublin West, Fianna Fail)
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Firstly, it is important to clarify that neither I nor the Central Bank of Ireland have the authority to dictate insurance pricing or product offerings, as these are commercial decisions made by individual companies, governed by the EU Single Market framework for insurance (the Solvency II Directive), which prevents Government from intervening in pricing or provision of insurance products.

Accordingly, it must be noted that insurers make their own commercial decisions; the terms and conditions of insurance policies vary between providers. Firms use various rating factors when deciding whether to provide coverage and on what terms. Insurers also base their prices on their own claims experiences, which means companies may weigh these factors differently. Consequently, products and the prices they are made available at vary across the market.

Mechanisms such as the Declined Cases Agreement, which is adhered to by all motor insurers in Ireland, are available to customers who are struggling to obtain private motor insurance. The only grounds on which an insurer can refuse cover are where to provide insurance be contrary to public interest. Customers seeking further information on the Declined Cases Agreement should contact Insurance Ireland by email at info@insuranceireland.eu or telephone 01 676 1820.

Finally, I wish to assure the Deputy that this Government remains strongly committed to achieving a competitive and sustainable insurance market. The Action Plan for Insurance Reform, a critical government initiative, is the primary vehicle to achieve this and is progressing well. Overseen by a Cabinet Committee Sub-Group on Insurance Reform, chaired by the Tánaiste, the plan has seen significant progress, with most actions either delivered or initiated. This coordinated whole-of-Government approach aims to improve the domestic operating environment for insurers, and to enhance the affordability and accessibility of this key financial product for consumers.