Dáil Éireann Debate, Thursday - 14 February 2013
150. Deputy Noel Grealish asked the Minister for Finance further to Parliamentary Question No. 254 of 29 January 2013, if he will intervene with insurance companies with reference to the provision of flood cover for persons who previously made a flood claim under their insurance, but have since relocated to a new home and cannot secure flood insurance as a result of their previous claim; and if he will make a statement on the matter. [7981/13]
View answerAs indicated in my reply of 29 January 2013, the issue of provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are accepting. The Deputy will recall that these are often considered on a case by case basis and it is important to be clear that neither the Government nor the Central Bank has any influence over this matter. Consequently I am not in a position to direct insurance companies to provide flood cover to specific individuals. My Department has however made enquiries with the Irish Insurance Federation (IIF) about the provision of flood cover in the circumstance you have described. While indicating that the decision to provide flood cover or not is a matter for each insurance company, their general view is that if the new home is in a low risk area from a flooding perspective then a good broker should be able to place the cover with an insurance company.
