Michael Mullins (Fine Gael) | Oireachtas source

I join Senator Gilroy in expressing concern about the flood damage in Cork. Twelve months ago, I raised the possibility of establishing a central fund for flooding with the insurance companies. If someone has the unfortunate experience of being injured in a road traffic accident where the other driver is not insured, the motor insurance bureau will provide compensation to the injured party. It is interesting to note that property and business owners in the United Kingdom who cannot obtain insurance cover for flood damage are able to draw from a specific fund in the event that their properties are damaged by flooding. I understand all the UK insurance companies contribute to the fund. We should consider the establishment of a similar mechanism. Insurance companies are refusing to provide cover for properties that may only have been damaged by flooding once in the past 30 years. This is causing problems for businesses and householders. I ask the Leader to invite the relevant Minister to the House to debate this issue and ascertain how we can move forward, including the possibility of the Government introducing amending legislation. Flood defences are necessary but we must also ensure that property owners who take the risk of running businesses are given adequate protection.