Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I acknowledge the role of the Thatch Property Insurance Action Group, which is very important. In regard to the insurance industry, different sectors have come to us, whether the equine centres, the play centres, the bouncy castle centres or the leisure and amenities sector, all of which had difficulties getting insurance individually. However, when they came together and put a group scheme together, they had purchasing power. Then the major insurance companies listened to 20 of those which came together. In the case of thatched roofs, nobody would know what size a big group scheme would be but if somebody has 100, 200 or 300, that is a sizeable book to go to any major insurance company with.

In my work in the past two years, all of the areas where there were pinch-point problems have ended up being dealt with by a group scheme or people coming together rather than people contacting insurance companies on an individual basis. It was a key element and I would suggest that. At Government level, we have only been able to do that with a whole-of-government approach. At the Department of Finance, which has responsibility for insurance and regulated business through the Central Bank, we have one role. The Department of Housing, Local Government and Heritage has a role here. The legislation I mentioned in my opening statement is the responsibility of the Department of Justice. It will not be solved by my Department alone or by Minister of State, Deputy Noonan's Department. It will only be solved by a couple of Departments coming together. That is why I welcome, in the public forum, the whole-of-government approach with the two Departments here. It is only through a couple of Departments working together that we will get some resolution to this as time goes by.

Then the issue will be price and we have found up to now that the issue is to get one full cover and then maybe in year two, when other people know it is a profitable business, there will be some competition on price in year two, but maybe not in year one.