Paschal Mooney (Fianna Fail)

Will the Deputy Leader consider having a debate on house insurance and the insurance industry? It has come to my attention in the past year to 18 months that the insurance industry operates on a rebuilding obligation cost when it comes to the renewal of one's annual insurance. Currently, that is worked out at €1.20 per square foot. The problem arises in that the insurance companies, in association with the Royal Institute of the Architects of Ireland, value rebuilding costs on just four areas of the country. Where I live in County Leitrim, we are part of the Shannon tax incentive scheme which has led to an enormous number of ghost estates and overbuilding, yet anyone living in the area who seeks an insurance policy renewal is told the rebuilding costs are based on the cost of rebuilding a house in Galway. That takes no account of the downturn in the construction industry or the fact there is an oversupply of houses in the area. From talking to brokers in the region, they say the rebuilding costs are between €0.90 and €1.00 per square foot, yet the insurance companies insist on operating a cartel.