Dáil Éireann Debate, Thursday - 3 October 2013
68. Deputy Micheál Martin asked the Minister for Finance if he or his Department have investigated the reason insurance companies are refusing to provide quotes to homes that are prone to subsidence; and if he will make a statement on the matter. [41702/13]
View answerAt the outset the Deputy should note that neither I, as Minister for Finance, nor the Central Bank can compel insurers to quote for business. The decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter based on the assessment an insurer will make of the risks involved. Insurance companies as a matter of course carry out reviews of the risks that they are prepared to insure against and sometimes make decisions to discontinue certain types of cover which they consider high risk, such as homes in an area which is prone to subsidence. These types of decisions are made sometimes on the basis of their broad past experience rather than looking at the individual circumstances of householders. Insurance Ireland operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance. Their service can be contacted at (01) 676 1914 or by email at iis@insuranceireland.eu.
