Caít Keane (Fine Gael) | Oireachtas source

I welcome Mr. Dempsey and the delegation back to the committee for its discussions about this important subject. The same issues concerning insurance claims in Cork referred to by Senator Clune are arising in Dublin. South Dublin County Council councillor, William Lavelle, explained to me that he got the council to send a letter to an insurance company explaining how flood relief works had been done in an estate in Lucan yet the insurance company refused to give them cover. There is no excuse for that.

Mr. Downey said that insurance companies are all acting together. In any language, that sounds like a cartel. As cartels are outlawed in so many spheres of life, the committee should investigate if this is happening with the insurance industry. We need to investigate the statistics in this case. As was said, there is a different insurance regime in Belfast? Why is that the case? I accept every company must turn a profit but we need to examine what amount of profit is being turned here. It was stated one insurance company has a retention policy of 40%. That is other people's money that this company is holding. When we have a body of evidence that has been brought to the committee today by the delegations, this committee will need to consider it.

Something has to be done. We cannot leave home owners without insurance. It would seem the insurance companies are hiding behind the geocoding information. We have much information we can use to explore what is happening in this problem. The delegation stated it was looking forward to whistleblower legislation being introduced. Many other groups are looking forward to it too.

Even during these financially straitened times, the OPW and the Minister of State, Deputy Brian Hayes, have done tremendous work in flood relief along with the local authorities. It is recognised that flooding must be tackled. I have seen much relief work done in my area, Templeogue, on the River Dodder. While we must do this efficiently, the insurance companies must also match our efforts.