I move: "That the Bill be now read a Second Time." I am pleased to bring the Central Bank (Amendment) Bill 2025 before the House. The Bill was initiated as a Private Members' Bill by Deputy Catherine Ardagh in February and, with her agreement, the Government has decided to use Government speaking time to prioritise its introduction before the recess and make the relevant amendments on Committee Stage. The legislation not reflects only a programme for Government commitment but is the right thing to do. We are ensuring those who have survived cancer can access mortgage protection insurance without discrimination based on their past diagnosis. The journey cancer survivors face is arduous and filled with uncertainty. However, when in remission their hopes are to rebuild, continue onwards and upwards, and plan with their families. For too long, though, cancer survivors in Ireland have faced a challenging and unfair situation whereby they can be refused cover or charged higher premiums because of their past diagnoses. The Bill aims to put a stop to this by giving effect to the right to be forgotten concept that is now becoming recognised throughout Europe. I take this opportunity to thank Deputy Ardagh for her unwavering dedication and hard work in bringing this critical issue to the forefront of our national agenda. Her determined efforts, including introducing the Central Bank (Amendment) Bill and previously championing it in the Seanad, are to be noted in the House. While this is a programme for Government commitment, I wanted to prioritise it on taking office in the Department of Finance at the end of January. It is legislation I was determined to progress in the first six months of my brief. Therefore, to ensure efficient progression of the Bill through the Houses, the Government has taken the right decision to progress the Bill in Government time, subject to amendments that will be worked on over the summer. Why does the Bill matter? This Bill is about fairness, dignity and recognising the resilience of individuals who have overcome one of life's greatest challenges. Their past struggles should not define their future opportunities. I firmly believe that we should be guided by these struggles to make something better if we have the ability to do so. Cancer touches a great many of us in Ireland, including myself and my family. I lost two siblings to cancer and I see it as a great privilege to be in a position to effect positive change today. The Bill reflects a broader societal commitment to support cancer survivors, ensuring that recovery from cancer is not a barrier to accessing mortgage protection. It gives statutory weight to protections that were previously voluntary, making them enforceable by law. This is a crucial step forward. At the heart of the Bill is the straightforward but powerful principle that, where survivors have completed treatment and remained in remission for a defined period, a past cancer diagnosis should not be held against them in the underwriting of mortgage protection insurance. This is a vital safeguard that allows survivors to rebuild their lives without fear of discrimination or financial exclusion. Some Deputies might rightly ask why we are doing this now when it has been spoken about for years. The Government was instrumental in moving the sector to act with the introduction of Insurance Ireland's voluntary code of practice on mortgage protection for cancer survivors in December 2023. This was a crucial first step. Key elements of the code included a commitment from participating insurers not to consider a cancer diagnosis where the applicant had completed treatment more than seven years ago, or five years ago for individuals diagnosed when under the age of 18, and a cap of €500,000 on the sum assured for those covered under the code. The Government's initial approach was to consider and observe how this voluntary code functioned in practice before seeking to enshrine similar provisions in law. We wanted to avoid rushing into legislation that could be impractical, leave unintended gaps or have legal consequences. Forvis Mazars conducted an independent review of the code in May 2025 on behalf of Insurance Ireland. The review confirmed that the code broadly works as intended but it also identified limitations. Its voluntary nature means that not all insurers are bound by it. The €500,000 cap and seven-year remission period exclude some survivors, particularly those with larger mortgage needs or longer treatment histories. Alongside this, the Department of Finance reviewed similar frameworks across the EU, looking at countries like France, Belgium and Luxembourg where laws on the right to be forgotten are already in place. We have learned a great deal from these countries' experiences. All of this groundwork was essential. Having completed it, the Government is now in a position to propose Committee Stage amendments to the legislation as initiated to refine the Bill and ensure that it is legally robust, in compliance with EU law and Solvency II regulatory standards, operationally practical for insurers and regulators, and fair and effective for cancer survivors seeking mortgage protection insurance. While I understand the frustration behind calls to act sooner, I assure the House that this careful and evidence-based approach ensures the best long-term outcome for cancer survivors and the stability of the market. The involvement of a number of organisations has been crucial and that too deserves recognition. It is important to highlight that the industry came to the table and that this legislation reflects progress rather than punishment. Above all, the tireless advocacy work of the Irish Cancer Society has been instrumental in giving survivors a voice. Some may question why the Bill focuses solely on cancer survivors and mortgage protection insurance and does not cover other financial products or medical conditions. The answer is one of prioritisation and pragmatism. In legislation and policy, it is vital to take a stepwise approach similar to other EU member states, focusing first on where the need is greatest and where there is the clearest evidence base. Mortgage protection insurance is a critical financial product tied directly to one of the most fundamental aspects of life, that is, securing a home. It is the area where discrimination against cancer survivors has been most pronounced and where protections are most urgently needed. Expanding the scope prematurely without the detailed actuarial and legal groundwork we have done here could introduce unintended consequences such as legal uncertainty, which would delay protection for cancer survivors, or indirectly impact other insurance products and premiums. It was prudent of the Government to ensure these were avoided. The amendments we are proposing on Committee Stage will clarify this focus, aligning the Bill's scope precisely with the existing voluntary code and European best practice. This targeted scope will ensure effective protection for cancer survivors where it matters most, avoid unintended impacts on other insurance products and sectors, and provide a clear and manageable framework for enforcement and complaints resolution. I will bring forward a number of amendments on Committee Stage following detailed consideration by Department of Finance officials, engagement with the Attorney General's office and key stakeholders, and the approval of Government. It is my intention that these amendments will: focus the scope of the Bill on mortgage protection insurance exclusively to focus protections where they are most needed; align it with the principles of the voluntary code; specify definitions as to what constitutes a cancer survivor for the purposes of this legislation, reflecting clinical and actuarial evidence on remission periods; set clear parameters around the remission period and sum assured thresholds, balancing protections and the management of prudential risk; designate the Financial Services and Pensions Ombudsman's office as the complaints and dispute resolution authority to provide an accessible and effective enforcement mechanism, thereby clarifying the powers and responsibilities of the Central Bank of Ireland; and ensure compliance with EU monetary and financial rules and other relevant legal frameworks to avoid unintended conflicts or risks. Each of these amendments will be carefully considered to ensure the Bill is not only meaningful, but also operationally viable, legally sound and capable of delivering real protections to cancer survivors. This Bill is priority legislation for Government, reflecting our commitment under the programme for Government and our responsibility to those affected. The Government is firmly committed to ensuring that this legislation is progressed in a timely manner. With the co-operation of both this House and the Seanad, it is my intention that the Bill will be enacted before the end of the year. Following Second Stage, which I hope the Bill will pass today, my officials will engage closely with the Attorney General's office on the precise drafting of the amendments in the areas I have outlined. These amendments will be subject to legal scrutiny to ensure compliance with all relevant domestic and EU laws. I assure all Members that, while we are on Second Stage, the substantive and critical amendments to make the Bill workable and effective will be brought forward on Committee Stage. This is where detailed scrutiny and improvements will occur. I wish to clearly emphasise that this Bill reflects our society's values of fairness, resilience and support for those who have survived cancer. It is the product of careful work, broad consultation and a commitment to getting it right for the long term. We are now at a crucial stage that will define how these protections are delivered in practice. The amendments in the areas I have signalled will ensure the Bill is fit for purpose and delivers on our promise. I ask all Members of the House to support the Bill on Committee Stage, to work constructively with us to improve it, and to demonstrate that we stand together for cancer survivors and for fairness in financial services. I look forward to listening to the contributions today and to a productive and informed debate.

Sentiment score: 0.13

I thank all Members who contributed to this important debate on the Central Bank (Amendment) Bill 2025. It is fair to say the tone of the discussion, by and large, has been thoughtful, constructive and, above all, compassionate, reflecting the seriousness and humanity of the issue at stake. This Bill is not just about insurance regulation but fairness, restoring dignity and ensuring those who have survived cancer are treated with justice, not judgment. I acknowledge the contributions from across the political spectrum. As previous speakers have said, we are coming to the end of the Dáil term. Usually, on Thursday evenings, it is harder to get contributors to debates regardless of how serious or important the matter is. I thank those who have given up their time this evening. It is fair to say there has been a clear and shared recognition that cancer survivors deserve better and their past illnesses should not be a barrier to home ownership. Some of the contributions strayed much wider and further than what the Bill intends to do. All I can say to those who made suggestions relevant to other Departments - this is a Department of Finance Bill - is we will pass on their suggestions to the relevant Minister or Minister of State in the Department of Health. I appreciate that any Deputy will take the opportunity to raise points relevant to supporting people undergoing treatment for cancer. I take those points in the spirit in which they were given and will certainly refer them to the relevant Minister to see what can be done. We are not legislating in the abstract here; we are responding to very real barriers faced by our fellow citizens. I thank Deputy Ardagh, who has a long-standing commitment to this issue and has brought us to where we are today. Her work in raising this, both in the Seanad in the previous term and in the Dáil, in partnership with the Irish Cancer Society and its CEO, the former Senator Averil Power, laid the foundation for what is very much a priority of mine now. This is also a priority Bill for the Government. It is right that Deputy Ardagh's determination is reflected in the progress made today. Several important points were raised during this debate. Some Members asked whether we were going far enough, while others questioned whether we should move faster or broaden the scope of the protections. These are fair questions and I assure Members they will be taken seriously as we move to Committee Stage. I stress that our approach from the outset has been guided by a careful, evidence-based and legally sound pathway. We have deliberately chosen to start with mortgage protection insurance because it is where the problem is most acute and the benefits of reform will be felt most directly. The risk, if we broaden the scope too far too quickly, is that we may end up unintentionally driving up premiums for everybody else. We have to take a step-by-step approach, which allows us to deliver the protections now without compromising legal certainty or operational viability. We heard concerns about enforcement. I reiterate the Government will bring forward amendments on Committee Stage to strengthen enforcement by designating the Financial Services and Pensions Ombudsman as the appropriate body to handle complaints. This will ensure cancer survivors have a clear and trusted avenue for redress, though we hope they will never have to go down that route. Deputy Collins gave an example of a cancer survivor who, thanks to the Deputy's advocacy in this House, had a matter resolved on the floor of the Dáil. Had it not been resolved here, I reiterate that where any health insurance company fails to offer compensation or payout based on the terms and conditions of the policy, it is open to the policyholder to refer a complaint to the Financial Services and Pensions Ombudsman. We will clarify definitions, remission periods and coverage thresholds, all of which are essential to making this law effective in practice and fair in application. It is unfair to say, however, that we are not going far enough in some instances because many countries have not introduced this measure. Even those that have introduced it in recent years, such as Italy, the period to be in remission is ten years. In Portugal, the Netherlands and Luxembourg, the period is also set at ten years. The only two countries that have introduced this with a shorter period than we have provided are France and Belgium. France introduced this initially with a period of ten years before graduating the period down to eight years and then five years. As I said in my opening contribution, we have looked at international best practice and we did not just pluck figures from the sky. There is reason and rationale for the timeframes we have proposed but we are open to suggestions that may come forward on Committee Stage and we will give them due consideration. Following the conclusion of Second Stage today, the Bill will proceed to Committee Stage. This will be a critical phase in which the amendments signalled in my opening remarks and raised in today's debate will be formally tabled and debated. The Department of Finance, working closely with the Attorney General's office, is finalising the drafting of these amendments to ensure they are legally robust, aligned with the EU Solvency II rules and operationally sound for insurers and regulators alike. We will also continue to engage with stakeholders, including patient groups and industry representatives, to ensure the Bill strikes the right balance, delivering real protections for survivors while maintaining the integrity of the insurance framework. Subject to the outcome of Committee and Report Stages, it remains the Government's intention to enact this legislation as quickly as possible. Ultimately, this Bill is a statement of the kind of society we want to be - one that does not define people by their illness, which recognises recovery, resilience and the right to rebuild one's life and which does not let bureaucratic or financial barriers stand in the way of something as fundamental as securing a home. By progressing this legislation, we are not only fulfilling a programme for Government commitment but also honouring the experiences of those who have overcome enormous personal challenge. Let us move forward together with purpose and compassion and hopefully bring this Bill to completion before the end of the year.

Sentiment score: 0.17