Dáil Éireann debate -
Wednesday, 8 Feb 1995

Vol. 448 No. 7

Written Answers. - Insurance against Flooding.

M. J. Nolan

Question:

88 Mr. Nolan asked the Minister for Enterprise and Employment if he will introduce amending legislation or regulations compelling insurance companies to quote for insurance cover to individuals who are subject to ongoing flooding, as applies in the area of motor insurance; and if he will make a statement on the matter. [2916/95]

Minister for Enterprise and Employment (Mr. R. Bruton)

I have no plans to introduce legislation which would compel insurers to offer quotes to individuals who are subject to ongoing flooding.

The primary responsibility of the insurance supervisory authority is to ensure that insurers authorised in the State meet their statutory reserves and solvency requirements. In order to meet these requirements and operate on a viable basis insurers must be allowed to accept or reject individual risks in the light of their underwriting experience.