Kevin Humphreys (Dublin South East, Labour) | Oireachtas source

I too thank the local authority workers, statutory authorities and the Minister of State at the Department of Finance for the work they did. Will the Minister of State at some stage give me a report on the breach in the flood defences at Fitzwilliam Quay in Ringsend, which was only recently built by the Office of Public Works?

When the repairs are done and the defences built the residents who were flooded during this period and who have paid flood insurance for decades will be refused compensation. This will have a significant long-term impact on small and medium sized businesses and on residents who want to move house, whether to downsize, or because they are starting families. For too long the insurance industry has held this country to ransom, especially those unfortunate people affected by this weather. The battle has only begun. When the repairs are done and the defences built the insurance companies will mess around the very people who have gone through this trauma. I ask the Minister of State to take this up with the Minister for Finance, Deputy Noonan, in some way, perhaps to consider the licensing of insurance companies. They must take a proportion of the risk, especially when the State invests millions of euro in flood defences. We may need to examine their licences or go through the Competition Authority to see if they are engaging in restrictive practices. Residents whose homes have not been flooded in over 100 years will no longer be able to get flood insurance after the repairs have been done. Buyers will not be able to get mortgages to purchase homes because the insurance companies will refuse them. There are restrictive practices in the insurance industry which must be tackled quickly.

Dublin city may need a tidal barrier against storm surges, similar to the Thames barrier in London. I ask the Minister of State to consider that as a long-term practical solution.

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