Vol. 471 No. 8
109 Mr. Davern asked the Minister for Enterprise and Employment if his attention has been drawn to the large number of householders in Clonmel and Carrick-on-Suir, County Tipperary, who have been refused or quoted high insurance premia when attempting to obtain house insurance following the January flooding incidents; the proposals, if any, he has to have the matter investigated; and if he will make a statement on the matter. [22343/96]
The primary responsibility of the insurance supervisory authority is to supervise the statutory reserves and solvency requirements of insurers authorised to do business in Ireland and to ensure that sufficient funds are available to meet claims as they arise. To ensure that these requirements are met, insurers must be free to accept or reject individual risks and to set their insurance premiums in the light of their underwriting exsperience. The Minister is not empowered to compel insurers to either quote in respect of specific insurance risks or to offer premiums at particular rates for such risks.
In the case of the particular situation to which the Deputy refers, insurers, in making or declining to make quotations, would have to take account of the cost of insurance claims arising from the previous flooding and the risk of recurrence of flooding in the areas affected.
