asked the Minister for Industry and Commerce if his attention has been drawn to the fact that insurance companies will not insure local authority flats in the Cork area; if he intends to raise this matter with the companies involved; and if he intends to take any measures to ensure that companies operating this type of practice will be dealt with as appropriate.
Written Answers - Local Authority Flats Insurance.
105.
My primary responsibility as the insurance supervisory authority is to ensure that companies meet their statutory reserves and solvency requirements. In this regard I must respect the right of insurers to accept or reject risks in the light of their underwriting experience. No obligation can be placed by me on an insurer to quote in respect of any risk if that insurer is not prepared to do so.
The Deputy raised this question on a number of occasions in the past and the matter was taken up with the insurers' representative body. Insurers maintain that there is no general policy of refusing cover on flats although flats do present extra risks for them.
If the Deputy provides details of specific cases where the cover was refused I will arrange to have them taken up with the insurers concerned. I must emphasise, however, that I cannot compel insurers to take on risks that they do not want.