Brian Cowen (Laois-Offaly, Fianna Fail)

I am aware of Deputy Jim O'Keeffe's keen interest in this matter. The area he represents has been greatly affected. The issue is that there will be a reassessment of risk by insurance companies arising out of the claims experience which will now emerge. As the Deputy knows, the Irish Insurance Federation ensures people are entitled to get quotes for insurance cover and, if not, having a mediating role and finding what a party seeking insurance cover might regard as reasonable in the circumstances. Unfortunately, the experience in the past has been that the reassessment of risk, actuarial risk, by insurance companies means increased premiums being sought where flooding takes place in same way as having an accident affects one's no claims bonus in vehicle insurance. Unfortunately, this is one of the consequences with which we must contend.

There could be a role for the Department of Enterprise, Trade and Employment which deals with the insurance industry to see a fair and honest assessment is made and to liaise with the industry to ensure insurance cover is available to people. Affordability will become an issue because of the claims experience which will now arise.

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