As I said in my answer to previous Parliamentary Question No. 225 Reference 21794/18 on 17 May 2018, insurance companies are private companies. Neither my Department not the Central Bank of Ireland has the power to direct insurance companies on the pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require prior approval of the pricing or terms and conditions of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks. These are considered by insurance companies on a case by case basis.
Insurance Ireland operates a free insurance information service for those who have queries, complaints or difficulties in relation to obtaining insurance. All calls regarding refusal to quote, or quotations that are so excessive as to be in effect a refusal, should be directed to Insurance Ireland by phone at (01) 676 1820, by email at declined@insuranceireland.eu or by post at 5 Harbourmaster Place, IFSC, Dublin 1 quoting the Declined Cases Agreement. The Declined Cases Agreement is administered by a committee made up of representatives of insurance companies and includes representatives from the Consumers Association of Ireland and the Financial Services Ombudsman. All motor insurance providers in Ireland must agree to abide the Declined Cases Agreement under the General Good Requirements for Insurance and Reinsurance Undertakings of the Central Bank of Ireland.
