Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

This is related to geocoding, which is subject to constant assessment and is not specific. I can get car insurance in the morning and property insurance may be for property worth four, five, six or ten times the value of a car. I would be asked more questions about my car. Car insurance is mandatory but house insurance is not. Nevertheless, in applying for car insurance I would be asked how many miles are on the clock, how many miles I drive per year, the value of the car, the effect of depreciation, what the car is used for, where it is located at night, etc. As car insurance is so specific and there was Government intervention a couple of years ago because young people were being fleeced, that part of the insurance industry responded.

I do not believe the Government has to make an intervention in the first instance with the insurance industry and I would much prefer the industry to respond to its problems. Regretfully, the witnesses have not told us there will be a code of practice for members, although perhaps that is a response that should be given from the outset.

Not providing specific insurance to companies goes back to what was mentioned by Deputies Ó Ríordáin and Humphreys earlier. The Office of Public Works, OPW, has implemented a host of remedial measures and people still find they cannot get flood insurance, so what is happening? Is the relevant Department not informing the insurance industry or do customers not have the methodology to explain that their property is no longer at risk? What is going on?