Micheál Martin (Cork South-Central, Fianna Fail) | Oireachtas source

There is a commitment in the programme for Government to draw up a new action plan on insurance. We did a lot of good work in the last government in respect of insurance. Insurance companies have to come to the table as well and respond to the reforms that have occurred, which industry and others sought, in terms of awards and all of that. More crucially, in terms of flood areas, there are issues without question. The State has to be cautious in the sense that the insurance industry has to play its role. Where flood relief schemes come in and are provided for by way of significant infrastructural investment, there is an onus and obligation on insurance companies to then insure again. The State, through compensation schemes, will do everything it can to underpin people who are impacted negatively and destructively by storms and flooding events but, fundamentally, we need a State agreement with the insurance industry. Primarily, where we do invest and create new infrastructure to prevent flooding, those houses or business should then be able to get flood insurance. The Minister of State, Deputy Troy, is dealing with this. I will alert him to Deputy Hayes's interest in the subject.

See this speech in context