Mr. Jer Buckley:

Two weeks ago, I was in a very famous stadium, which used to be called Lansdowne Road. It is now named after a famous insurance company, and €100 million from that insurance company went into sponsorship of the stadium. To me, this does not indicate a company at risk of insolvency. We have to call a spade a spade. There is not a willingness, and there will not be a willingness, by insurance companies to come to the table and address these issues in a proper way. The only way forward is Deputy McGrath's Bill. We are talking about a situation that has not been going on for just the past two, three or four years. We are talking about a situation that has been going on for the past ten years.

It cost €1.2 million of taxpayers' money to defend 130 houses. We surveyed the estate and of the 130 houses, 60 are without flood insurance. Nevertheless, we are being told that 98% of homes have flood cover. These figures have to be verified.

A point was raised about what could be done under a memorandum of understanding. One of the things that could be done is that Insurance Ireland could inform the OPW of the streets and communities in respect of which its members are refusing to provide flood cover. That is not a proviso and I am still arguing vehemently that Deputy Michael McGrath's Bill should go through. If insurers are claiming to cover 98%, perhaps we should turn the cart around. Perhaps the time has come for insurers to draw up a list after a scheme has been completed and admit that they are not insuring in particular areas. That would allow us to get to grips with this. There is no data. Heavy-hitting Departments - including the Department of Finance - are making serious decisions on the basis of data that has been given to them by Insurance Ireland and that has not been verified.