Dáil Éireann Debate, Thursday - 16 February 2023
200. Deputy Richard O'Donoghue asked the Minister for Finance if his attention has been drawn to the problems that owners of thatch properties face due to the cost of insuring these properties and the lack of companies willing to insure these properties; that fact that these properties are listed buildings and are guided by the recently released heritage report; and if he will make a statement on the matter. [7894/23]
View answerWhile neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups across the State.
The whole-of-Government approach being taken through the Action Plan for Insurance Reform sets out 66 actions, which aim to improve both the cost and availability of this key financial service. The latest Action Plan Implementation Report shows that 90 per cent of these actions are either initiated or ongoing.
The Department of Housing, Local Government and Heritage recently released a report on fire safety in thatched structures. This found a relatively high incidence of fire in thatched buildings in Ireland and highlighted research indicating that the great majority of thatch fires stem from a small number of causes. It outlined a number of relatively straightforward measures (including avoiding the use of solid-fuel stoves, raising chimney heights, and proper maintenance of chimney flues) which will help substantially reduce the risk of fire in thatched buildings. If the incidence of fire can be reduced, it is reasonable to expect that normal commercial competition will cause a corresponding reduction in premiums. The Department of Housing, Local Government and Heritage is currently developing public guidance based on the report findings, and my officials are working with their counterparts to disseminate this information to relevant stakeholders in the insurance industry.
Finally, I would like to take this opportunity to assure the Deputy that securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland, including for thatched properties, remains a key policy priority for this Government.
