Tuesday, 2 July 2013

Questions (293)

Bernard Durkan

Question:

293. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which his Department continues to monitor the level of default in respect of mortgage protection or life cover by various insurance companies; and if he will make a statement on the matter. [32304/13]

View answer

Written answers (Question to Finance)

My Department does not keep up to date information on the level of default by insurance companies with particular reference to mortgage protection or life cover. I have made enquiries with the Central Bank about this matter which I understand relates to cases where a person can no longer afford to pay for the protection and/or has claim rejected.

The Central Bank has informed me that it does not collect this information.

It should be noted that if a policyholder has a complaint about an insurance company not honouring a claim on a policy, they can refer the matter to the Financial Services Ombudsman for adjudication http://www.financialombudsman.ie/.