Kevin Humphreys (Dublin South East, Labour) | Oireachtas source

I do not see in the two paragraphs referred to anything that is difficult to comply with. We should write to the OPW. The opening statement states: "It is also important that the OPW communicates reliable information on flood defences to insurers in a format that is easily accessible...". We should ask the OPW if it is providing reliable information given the fact that the witness raised it. I have found the OPW to be very professional and to operate at a very high standard, so we should write to the OPW and pose that question.

I have not received a satisfactory answer. We know the work that was done and the information was communicated to the insurance companies. The works were to the highest standards and were verified by senior engineers, but it made no difference to people's access to insurance. Other things were mentioned in the statement. It says: "It is insurers’ experience that in the boom years homeowners invested heavily in upgrading the fit-out of their homes – installing high quality kitchens, wooden floors and electronic equipment resulting in a very large increase in the cost of flood claims." However, that also increased the cost of taking out insurance. I wonder why that is included. It is obvious that if one insures one's house for a higher figure, the insurer will charge the person more money. That is part of the insurer's risk. The insurers are saying that they will charge the person more but they do not wish to pay it out. That is what hits me from that comment. Homeowners invest in a fit-out of their homes but they pay a higher premium for that fit-out. I am at a loss to understand why the witnesses included that.

The operation profits for household insurance are still at approximately 125%. Is it sustainable in that area? Are we facing insurance companies opting out of high risk elements? We have seen this in areas in Europe. The European directive and other European countries have insisted that insurance companies carry the risk on high-----