Séamus McGrath (Cork South-Central, Fianna Fail)
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618. To ask the Minister for Finance to introduce policy to ensure the reimbursement of persons who had been involved in a road traffic accident and were charged higher insurance premiums while the matters were being investigated and resolved, but were ultimately deemed totally faultless and non-liable; and the reason a person should have to pay higher premiums for a number of years when they were essentially the victim of an accident. [40919/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As Minister for Finance, I am responsible for the development of the legal and policy framework governing financial regulation, including for the insurance sector.

It is important to note that neither I as Minister for Finance, nor the Central Bank of Ireland has the authority to intervene in the pricing or availability of individual insurance products. These are commercial matters for insurers, subject to prudential and conduct supervision under the EU’s Single Market framework, particularly the Solvency II Directive. As the Deputy will appreciate, I am unable to comment on individual cases, nor can I intervene in disputes that individuals may have with an insurance provider.

Insurance Ireland have advised my officials that multiple rating factors make up the risk profile submission, which can include a third-party claim, even if the claim was later withdrawn, as an insurer may need to reserve for a possible settlement of the third-party claim once the liability dispute concludes. These factors will determine the level of premium to be issued subject to policy conditions and the circumstances presented to the insurance company.

In situations where a person is not satisfied with the service of an insurance provider, it is advisable that that person makes a complaint via the firm's internal complaints resolution process. The Central Bank of Ireland’s Consumer Protection Code requires that if after 40 days the complaint has not been resolved to the customer’s satisfaction, the regulated entity must inform the consumer that they may refer their complaint to the Financial Services and Pensions Ombudsman (FSPO). The 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 FSPO can be contacted either by email at info@fspo.ie or by telephone at 01-567-7000. Investigations by the FSPO are free of charge to the complainant.

In addition to this, Insurance Ireland operates an Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance, which can be accessed at: feedback@insuranceireland.eu