As the Deputy is aware, as Minister for Finance I am responsible for the development of the legal framework governing financial regulation, and neither I nor the Central Bank of Ireland has the power to direct insurance companies on the pricing or provision of insurance products. Indeed, the EU framework for insurance (the Solvency II Directive) expressly prohibits Member States from adopting rules which require insurance companies to obtain 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.
In relation to insurance for private ambulance services, I understand that as private businesses, they obtain insurance on the market. My officials contacted Insurance Ireland about this and I understand from that there are a number of insurance companies who provide insurance to private ambulance operators. In addition, such insurance may be considered a form of fleet insurance depending on the number of vehicles the service has. Insurers use a combination of rating factors in making their individual decisions on whether to offer cover and what terms to apply. Factors include those such as the age and type of vehicles, the number of drivers, and how the vehicle is used. Insurers do not all use the same combination of rating factors, prices vary across the market and consumers are free to choose. Insurance companies also price in accordance with their own past claims experience, and many have exclusions as to the age of drivers on such fleet policies.
Finally, with regard to the specific case in the details supplied, the relevant individuals and private ambulance providers should contact their insurer or broker directly to see if a solution is available. In addition, if an individual is having difficulty in receiving an insurance quotation, or a private company has issues in relation to named drivers on their fleet policy, they may wish to use the Declined Cases Agreement (DCA). Under the terms of the DCA, which is adhered to by all motor insurers in Ireland, the insurance market will not refuse to provide insurance to an individual seeking insurance if the person has approached at least three insurers and has not been able to obtain cover from them. In this regard, there are further details available on the Insurance Ireland website, while more generally, Insurance Ireland also operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance. The relevant contact details are: feedback@insuranceireland.eu or declined@insuranceireland.eu.
