Cathal Crowe (Clare, Fianna Fail) | Oireachtas source

I wish to raise the issue of homes and businesses in County Clare ,though it is also a national issue, who cannot get flood cover on the insurance policy. Those that can, pay a huge amount for it. The industry tells us it is all about the principle of risk equalisation. One house gets flooded so all must pay. That is fundamentally wrong. There has been a lot of remedial work undertaken in the lower Shannon and elsewhere in this country to ensure flooding does not occur but the industry continues to penalise homeowners and business owners. It will require intervention from the Government and the Central Bank. I do not have trust in Insurance Ireland to do something on this because this has repeatedly been raised with it. In County Clare, I estimate between 3,000 and 4,000 home owners in Ennis, Shannon, Sixmilebridge and Shannon Banks cannot get flood cover. It is worse than that though because when someone tries to sell one of these properties, conveyancing invariably happens and people are advised not to buy or give a mortgage for the property. Therefore, the sale of properties collapses far too often. It is will require Government intervention.

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