Dáil Éireann Debate, Thursday - 9 October 2014
44. Deputy John Lyons asked the Minister for Finance if his attention has been drawn to householders in some types of housing, such as maisonettes, being denied insurance cover for their homes; if there are any measures under his remit to assist these householders; and if policy changes could assist those affected by this situation. [38669/14]
View answerNeither I, as Minister for Finance, nor the Central Bank of Ireland, as Regulator, 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.
My officials have consulted with the Central Bank of Ireland and with Insurance Ireland on the matter. The Central Bank has advised that it is not aware of any issues particular to maisonettes at this time. Insurance Ireland, which represents 95% of the market, has advised that maisonette insurance is available within the insurance market here.
Insurance companies, as a matter of course, carry out reviews of the risks against which they are prepared to insure and sometimes make decisions to discontinue certain types of cover which they consider high risk. 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. They have advised that they may be in a position to assist if a proposer has difficulty in obtaining an insurance quote. Their service can be contacted at (01) 676 1914 or by email at iis@insuranceireland.eu.
