Oireachtas Joint and Select Committees
Wednesday, 15 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Flood Risk Insurance Cover: Discussion
12:00 pm
Tom Barry (Cork East, Fine Gael) | Oireachtas source
We now have BER ratings on houses being sold or rented in order for people to know what efficiency they can expect. What is Mr. Thompson's view on an insurance rating so that when a property is bought, sold or built, buyers would know the insurance situation? I use the example of an apartment block which floods to three feet. Floors one, two and three are fine, but everyone on the ground floor is in trouble. It would seem unfair that the people on the lower floor bear all of the responsibility. Has Mr. Thompson considered this? Has he considered equalisation in those situations? Could insurers state which metrics they might take into account in an area and then display them when a property is being rented, sold or built? In Cork city there is currently a huge new build taking place on the flat of the city, all of which is a flood zone. Much good work could be done now rather than retrospectively.
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