Oireachtas Joint and Select Committees

Thursday, 23 November 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Scrutiny of the Flood Insurance Bill 2016

9:30 am

Photo of Jonathan O'BrienJonathan O'Brien (Cork North Central, Sinn Fein) | Oireachtas source

I agree with this analysis and it is something we have spoken about. I know of Mr. Buckley's personal experiences and the difficulties he has had in Cork. It is interesting that just before Insurance Ireland comes before the committee on the back of the Flood Insurance Bill it is admitting that demountable defences offer the same protection but putting in the caveat of human intervention. Based on the presentation it will give us, it states we need to look at strategies to address the issue of human intervention. This is a case of kicking the can down the road. It also states detailed work needs to be progressed in a very prudent manner to ensure insurance companies are not taking on excessive risk that would undermine their solvency.

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