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Dáil Éireann debate -
Thursday, 12 Mar 1992

Vol. 417 No. 3

Written Answers. - Insurance Cover.

Ivor Callely

Question:

39 Mr. Callely asked the Minister for Industry and Commerce if his attention has been drawn to the problems some people experience on trying to obtain insurance cover on their property at a reasonable premium; if his attention has further been drawn to the placing of a loading on a premium where the insurers have regard to certain areas having social problems; and if he will make a statement on the matter.

I must once again remind the Deputy that as the insurance supervisory authority I have a responsibility to ensure that insurance companies meet their statutory solvency and reserving requirements. It is not my function to tell insurers how to run their business or to interfere in their rights to accept or reject risks, or to dictate the terms applicable to any insurance policy, or to interfere in their rights to charge realistic premiums in the light of their underwriting experience.

I regret that I cannot therefore interfere in matters for which I have no statutory or other responsibility. There is an obvious danger that continuously answering questions of this type gives a false impression to Deputies and to the public which I would not wish to give.

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