Dáil Éireann Debate, Tuesday - 9 December 2014
305. Deputy Billy Kelleher asked the Minister for Health if a health insurer (details supplied) will receive authorisation from the Central Bank of Ireland by 31 December 2014; if not, the extension that will be provided to the health insurer to continue to seek authorisation; and if he will make a statement on the matter. [46827/14]
View answerThe Government agreed in December 2011 to address the European Court of Justice (ECJ) ruling of September 2011 which found that Ireland had failed to fulfil its obligations under the EU non-life Directives by exempting VHI from being regulated (i.e. holding authorisation) by the Central Bank of Ireland (CBI).
Significant progress has been made since the subsequent Government Decision of 3 December 2013 towards achieving authorisation of VHI by end 2014. VHI submitted its application to the CBI on 16th May 2014. It continues to engage closely with the CBI to provide clarifications in respect of their application, and my Department has also provided a number of clarifications to the Bank to assist them in their understanding of the private health insurance market.
The CBI is not subject to the ECJ infringement deadline which applies to the State. However, as the independent regulator, the CBI continues to assess the application to determine VHI's readiness for authorisation. It is my intention that VHI will be authorised at the earliest opportunity, upon approval by the CBI.
