Barry Ward (Dún Laoghaire, Fine Gael)
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94. To ask the Minister for Finance further to Parliamentary Question No. 288 of 25 March 2025, his views on whether existing age-based policies enacted by some insurance companies amount to discrimination under the Equal Status Acts 2000-2018; and if he will make a statement on the matter. [15994/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy may be aware, the Equal Status Acts 2000-2018 are under the remit of the Minister for Justice. The legislation protects against discrimination on nine specific grounds, including age. However, the legislation also provides that people can be treated differently on any of the grounds (except gender) in relation to the provision of annuities, pensions, insurance policies or any other matter related to the assessment of risk – but only if the differences are based on the reasonable application of actuarial or statistical data or other relevant underwriting or commercial factors.

As outlined in my response to Parliamentary Question No. 288 of 25 March 2025, insurers are obliged to assess the risk involved as part of any application for insurance, which will be specific to the individual applicant. It is important to note that neither I as Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct insurance companies to extend coverage beyond the terms specified in their policies.

If an individual is not satisfied with how a regulated firm is dealing with them in relation to the provision of insurance, or they believe that the regulated firm is not following the requirements of the Central Bank’s codes and regulations or other financial services law, they should make a complaint directly to the regulated firm.

If the consumer is still not satisfied with the response from the regulated firm, he or she can refer the complaint to the statutory Financial Services and Pensions Ombudsman (FSPO). The FSPO acts as an independent arbiter of disputes that consumers may have with their insurance company or other financial service provider. The FSPO can be contacted either by email at info@fspo.ie or by telephone at 01-567-7000.