Seán Sherlock (Cork East, Labour) | Oireachtas source

Consider for instance the UK model, in which there are eight guiding principles. I am not going to articulate what the principles are, but it could be contended that some of them could, in principle, be incorporated into the MOU as well. We would not be distorting competition. This would allow for pricing that reflects risk, which would deal with the excess issue. This would allow investment in flood risk-management activity and sustainable long-term approaches to flooding insurance.

We have to kick the tyres on the MOU, because that is the only avenue that we have, as individual Members of the Oireachtas, to advocate for those who do not have flood insurance at the moment. Insurance Ireland needs to come a little bit further more quickly.

Some of Mr. Thompson's language is encouraging, I will say that. He talks about a rate of coverage of 83% and efforts to increase that rate. We need to see the evidence of that much sooner. That is why my final question to him is this; has he received any correspondence, or had any discussions, with any of Insurance Ireland's members who stated absolutely and utterly that all the demountables in the world would not change their position of not providing insurance cover? Have any of Insurance Ireland's members ever come to Mr. Thompson and said that they would not provide cover, regardless of how much is spent and no matter what is done on rivers, river basins, arterial drainage schemes or whatever? Have any of his members said that they are getting out of that market and coverage is not going to happen?