Dáil debates

Wednesday, 22 June 2022

Insurance Reform: Statements

 

2:07 pm

Photo of Seán SherlockSeán Sherlock (Cork East, Labour) | Oireachtas source

I thank Deputy Nash for sharing his time. I wish to refer to flood alleviation works and the challenges people face when they seek to purchase insurance in areas where Office of Public Works, OPW, flood mitigation projects have already been completed. I specifically refer to the Munster Blackwater in towns like Fermoy and Mallow, as well as places in Cork city where we do not yet have full OPW schemes under way, where there is a massive difficulty on the part of businesses and residents to acquire insurance. When the Minister for Public Expenditure and Reform, Deputy Michael McGrath, was in opposition, he put forward the Flood Insurance Bill 2016. The purpose of the Bill was to ensure that people who work, reside or have businesses in areas where flood relief schemes were implemented would be able to get insurance cover.

I understand that Bill died when the last mandate ended. I make no apologies in saying I will now bring that Bill forward, line for line, in my name. We will put it to the test and, it is to be hoped, if a member of Fianna Fáil does not put forward the same Bill in the intervening period, in which case I would be very happy to yield, I will put forward that Bill on behalf of the Labour Party to test the theory that Fianna Fáil will be serious about ensuring that people who live in areas where flood alleviation works have been carried out will be able to get that cover.

While I am speaking about flood alleviation works and the OPW, that scheme in Fermoy cost €30 million. It was a fine scheme. An incident took place there on 21 February last year, when a small number of premises were adversely affected and were flooded. The owners of those premises have yet to receive any kind of compensation or report in respect of what took place there. This is relevant to the insurance issue because when incidents like this occur, where relief works do not work completely and there is a breakdown somewhere, and where we do not have sight of the report in respect of Fermoy, it feeds into the narrative from the insurance companies that they do not have to cover these towns where works have been carried out. It strengthens their hand. I am hopeful, in putting forward the Flood Insurance Bill that, as I said, a member of Fianna Fáil or the Government will come forward and now promulgate this Bill, which was initiated by the Minister for Public Expenditure and Reform, Deputy Michael McGrath. If they do so, I will happily withdraw my Bill. We will test the Government on that to see if it is serious about providing flood insurance cover in those areas.

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