Peter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

I must, unfortunately, oppose amendment No. 29. It seeks to require an applicant for registration to possess latent defects insurance. Latent defects insurance is taken out on a project-by-project basis and it is not practical that registration could be conditioned on the possession of such insurance. In addition, while a builder of residential or non-residential buildings should possess such insurance, other categories of providers of building works, for example, bricklayers or plasterers, do not require this insurance.

It is worth noting that while latent defects insurance is not a mandatory requirement, lending institutions and consumers are likely to demand it. I recognise that this is a very important consumer product, particularly in the residential market. I will review how this is further promoted and encouraged so that consumers are aware of this product. This would also have the effect of encouraging the take-up of latent defects insurance.