As Minister for Finance, I am responsible for the development of the legal and policy framework governing financial regulation. Neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we compel any insurer operating in the Irish market to provide cover to specific individuals. This position is reinforced by the EU framework for insurance companies (the Solvency II Directive).
Notwithstanding this, my officials raised the Deputy’s query with Insurance Ireland, the representative body for insurance providers in this country. It has advised that in general, there is no consistent approach in how insurers ask a proposer if they or a member of their family ever had a previous conviction. The objective of the questions asked at the proposal stage is to establish the material facts relating to the risk, which has a bearing on the risk appetite of the insurer.
Accordingly, it is understood that insurers will use a combination of factors in making their individual decisions on whether to offer cover and what terms to apply. However, insurers also price in accordance with their specific claims experience and do not use the same combination of rating factors.
Insurance Ireland also acknowledged that under the Criminal Justice (Spent Convictions and Certain Disclosures) Act 2016, certain minor offences (like public order and motor offences) become spent after 7 years. This means that an adult convicted of an offence covered by the Act does not have to disclose the conviction after 7 years, except in certain circumstances.
Insurance Ireland operates a free Insurance Information Service for members of the public, which deals with general queries in relation to insurance cover. This can be accessed by calling 01 676 1820 or emailing feedback@insuranceireland.eu.
In addition, I understand that some brokers provide specialist home insurance for non-standard risks, providing quotes for consumers that may not be able to source cover due to previous convictions, however the premium would reflect the risk. Brokers Ireland has access to a wide range of providers and products, and can be contacted at: 01 661 3067 or at: insurancequeries@brokersireland.ie.
