The Deputy will be aware that, as the insurance supervisory authority, my primary and statutory duty is to ensure that insurance companies maintain their statutory reserves and solvency requirements. In this regard I must respect the right of insurers to accept or reject risks in the light of their underwriting experience. There is no legal obligation on any insurer to quote in respect of any risk or to quote in any manner or at any particular premium.
I understand that in order to maintain their viability some motor insurance companies are tending to be more selective in the type of risk for which they are prepared to quote. This more selective approach tends to apply to new business rather than to existing policyholders.
Notwithstanding this, my information is that a number of companies are continuing to offer insurance cover to persons under 25 years of age who are without no claim bonuses. Indeed the Irish Insurance Federation has indicated to me that this is the position.