Holly Cairns (Cork South-West, Social Democrats)
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289. To ask the Minister for Finance if he is aware of indemnity insurance requirements excluding people in bankruptcy from practicing as therapists; and if this exclusion is continued after they are discharged from their bankruptcy. [9318/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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At the outset, it is important to note that neither the Minister for Finance nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, nor compel any insurer operating in the Irish market to cover specific individuals or organisations. This position is reinforced by the EU framework for insurance, specifically the Solvency II Directive, which prohibits Member States from such interventions.

Professional indemnity insurance is essential for therapists to protect both practitioners and clients. However, insurers often assess financial history as part of their risk evaluation, which can lead to coverage restrictions for individuals declared bankrupt. While these restrictions typically apply during bankruptcy, it is unclear whether they continue after discharge, as insurers set their own underwriting criteria. Insurers continuously review and analyse relevant data and will assign varying weighting to risk factors, depending on the provider’s individual risk appetite.

The Financial Services and Pensions Ombudsman (FSPO) is a statutory official who acts as an independent arbiter of disputes which consumers may have with their insurance company or other financial service provider. The Department of Finance cannot intervene in the ongoing disputes process of the FSPO in the interest of the Ombudsman remaining independent and impartial. If a consumer is dissatisfied with how an insurer has handled their application or feels that the insurer is not adhering to Central Bank regulations, they can first file a complaint with the insurer. If the response is unsatisfactory, the complaint can then be escalated to the Financial Services and Pensions Ombudsman, which can be contacted at info@fspo.ie.