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Insurance Coverage

Dáil Éireann Debate, Wednesday - 28 April 2021

Wednesday, 28 April 2021

Ceisteanna (273, 277, 282)

Mick Barry

Ceist:

273. Deputy Mick Barry asked the Minister for Finance if he will introduce regulations or take steps to prevent insurers denying cover or loading premia for those who are type 1 diabetic and who are managing their condition; and if he will make a statement on the matter. [21443/21]

Amharc ar fhreagra

Thomas Gould

Ceist:

277. Deputy Thomas Gould asked the Minister for Finance if insurance companies can refuse cover or increase premiums on the basis of controlled type 1 diabetes; and if so, the steps he is taking to address the issue. [21622/21]

Amharc ar fhreagra

Pádraig O'Sullivan

Ceist:

282. Deputy Pádraig O'Sullivan asked the Minister for Finance if his attention has been drawn to the difficulties persons with type 1 diabetes face in trying to get life insurance or mortgage protection (details supplied); and if he will make a statement on the matter. [21744/21]

Amharc ar fhreagra

Freagraí scríofa

I propose to take Questions Nos. 273, 277 and 282 together.

At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct companies as to what terms and conditions apply in relation to cover.

It is my understanding that generally, insurers use a combination of rating factors in making their individual decisions on whether to offer life insurance and what terms to apply. These can include age; health; family medical history; occupation; and lifestyle. In addition, these may be determined or linked to the policy duration. In the case of mortgage protection policies, these tend to be over the lifetime of the repayment schedule. In addition, my understanding is that different insurers do not use the same combination of rating factors. Accordingly, prices and availability of cover varies across the market, and will be priced in accordance with firms’ prior claims experience.

While the above applies in general, I am aware of reports that some customers, including those with Type-1 diabetes, have experiencing increased difficulties in obtaining life insurance or mortgage protection cover in the context of the COVID-19 pandemic. This is an issue that Minister of State Fleming and my officials have raised in meetings with Insurance Ireland, and more recently with the CEOs of the main insurers in the Irish market. Insurance Ireland stated that while unaware of any cases where life cover has been denied, such policies are assessed on a case-by-case basis and that underlying health conditions, such as Type 1 diabetes, will be taken into account by underwriters, as was the case pre-COVID-19. It will continue to keep in close contact with its members on this issue, which I welcome.

The Deputy will be aware that both Minister of State Fleming and I have consistently and publicly stated that in the context of COVID-19, we expect insurance firms to treat their customers fairly, honestly, and in accordance with the Central Bank’s Consumer Protection Code.

Finally, where somebody feels they have been treated unfairly by a particular insurance provider, they have the option of making a complaint to the Financial Services and Pensions Ombudsman (FSPO). The FSPO acts as an independent arbiter of disputes which consumers may have with their insurance company or other financial service provider. The FSPO can be contacted either by email at info@fspo.ie or by telephone at 01-567-7000.

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