At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many thatched property owners across the country around the cost and availability of insurance cover for their properties. However, it is important to note that 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, including for buildings with thatched roofs.
My officials have raised the issue of thatched properties with the insurance company in question. The provider has stated that due to key variances such as climate, building practices, heating practices and availability of trades, it is not possible to simply extrapolate experience on niche types of risks from one country to another given the significant differences between the two. The insurer has noted that as it develops more data and experience in the Irish market it will seek to expand its underwriting footprint over time. Minister Richmond, in his capacity as chair of the Office to Promote Competition in the Insurance Market has raised the thatch issue in engagements with industry, and will continue to do so.
Separately, you may be aware the Department of Housing, Local Government, and Heritage (D/HLGH) produced a detailed fire safety report in November 2022; it subsequently published guidance in October 2023 aimed at reducing the risk posed by fire. Additionally, since the beginning of 2024, D/HLGH has offered a pilot scheme to enable Department experts to visit thatch owners to help provide advice on safety and fire prevention. Officials from my Department have disseminated this information directly to the insurance sector and facilitated a number of meetings between officials from D/HLGH and insurance stakeholder groups.
In conclusion, 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.
