Carol Nolan (Offaly, Independent)
Link to this: Individually | In context

178. To ask the Minister for Finance if he will address an organisation’s concerns and requests regarding insurance discrimination impacting cancer survivors (details supplied). [54011/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

I would like to thank the Deputy for their question regarding the implementation of legislation for the Right to be Forgotten for cancer survivors in the context of access to mortgage protection insurance and the Central Bank (Amendment) Bill 2025.

The Government is firmly committed to advancing this important legislative reform and it is a key commitment in the Programme for Government – Securing Ireland’s Future. The decision by Government to legislate follows engagement with key stakeholders, including Deputy Catherine Ardagh, who originally proposed the measure, and reflects the Government’s determination to put these protections on a statutory footing and to provide legal certainty and ensure uniformity across all market participants.

The Bill builds on the Voluntary Code of Practice, introduced by Insurance Ireland in December 2023, which disregards a cancer diagnosis for the purpose of mortgage protection insurance applications once treatment ended more than seven years before the date of application—or more than five years in the case of those diagnosed under the age of 18. The Code applies to mortgage protection insurance policies up to €500,000, has been fully adopted by the eight participating insurers. A recent independent review of the Code’s first year of operation, carried out by Forvis Mazars and published in May 2025, found that the Code is working well and that it has improved access to cover for cancer survivors and demonstrates a strong sectoral commitment.

Additionally, there is a need to ensure alignment with EU regulatory requirements, in particular the Solvency II Directive, when bringing forward this piece of legislation. The drafting process is therefore being undertaken with careful consideration of the implications for prudential regulation and the classification of insurance risks, to ensure that the objectives of the Bill are achieved without any unintended impacts on financial stability or market functioning.

As you may be aware, the Dáil passed Second Stage of the Central Bank (Amendment) Bill 2025 on 17 July 2025. During the debate, Minister of State Troy highlighted that amendments to the Bill will include setting clear parameters around the remission period and sum assured thresholds, while balancing protections and the management of prudential risk and will designate the Financial Services and Pensions Ombudsman's office as the complaints resolution authority to provide an accessible and effective complaints resolution mechanism. This legislation, when passed, will give legal effect to the Right to be Forgotten, ensuring that cancer survivors can access mortgage protection insurance once they meet the remission thresholds set out in law.

In conclusion, our approach reflects Government's commitment that a cancer diagnosis, once an individual has completed treatment and achieved defined recovery milestones, should not be a barrier to securing mortgage protection insurance. Advancing the Bill represents an important step in building a fairer and more compassionate insurance framework and I look forward to working with colleagues across the Oireachtas to ensure its passage into law in a timely manner.