Pat Casey (Wicklow, Fianna Fail) | Oireachtas source

I wish to take this opportunity to thank Deputy Michael McGrath for his great work in bringing this Bill to the House. I hope the Government can see the commonsense and fairness at the heart of this public policy.

The Bill aims to alleviate the financial pressures on homes and businesses which are unable to get reasonable insurance cover due to flooding concerns. The insurance sector is rightly under scrutiny by the Dáil. The sharp and unjust practices that have been allowed to develop are seen clearly in their attitude to victims of flooding and potential victims of flooding.

Insurance exists to provide for risk, for example, for the day when disaster strikes. When a family home or business is flooded, no insurance will cover the stress, sense of loss or the loss of personal items that these events bring. Yet, insurance is provided to cover the necessary repairs to bring life back to what has been destroyed.

Flooding has been a particular problem in Arklow and Bray and flood defence works are currently under way there. However, we cannot endure a situation whereby homes and businesses in Arklow and Bray still cannot get insurance cover even though flood defence works have been completed. The State is investing significant amounts of money in flood defence works. Insurance providers need to follow suit and provide adequate insurance cover once these works have been completed. The flood defence teams will ensure that homes and businesses will secure a once in 100 years standard, the highest standard achievable. It is immoral to deny insurance to residents and businesses in areas where defences have been put in place.

It is the purpose of practical politicians to right this wrong. This Bill does precisely that. This Bill will ensure that insurance companies provide reasonable premium cover to all who require it. The Central Bank will enforce it. This amounts to the Central Bank acting directly on behalf of citizens and the common good. I trust this Bill will be supported by all in the House.

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