Dáil Éireann Debate, Tuesday - 16 December 2014
219. Deputy Michael McGrath asked the Minister for Finance if there is a facility for insurance companies to check if other insurance companies have previously had an issue with a specific customer concerning non-disclosure of a cancelled policy; if so, the way the system operates; and if he will make a statement on the matter. [48069/14]
View answerIn my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and neither the Government nor the Central Bank has any influence over this matter.
Officials from my Department have consulted Insurance Ireland and they have informed us that there is no general arrangement between insurers for checking on non-disclosure. Insurance Ireland state that these cases are normally detected when a policy is being taken out and the consumer is asked if they have ever had a policy cancelled or renewal refused and, if so, the reason why. Furthermore, a previously undisclosed claim can also be discovered during a claims investigation.
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.
Finally, 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/.
