22 Nov 2017, 14.33
The Committee on Finance, Public Expenditure and Reform, and Taoiseach will meet tomorrow at 9.30am in Committee Room 2, Leinster House.
The Committee will scrutinise the provisions of the Flood Insurance Bill 2016, a Private Members Bill (PMB) sponsored by Deputy Michael McGrath. The Bill proposes to require insurance companies to offer insurance cover to homes and businesses at risk of flooding, in line with certain criteria.
The following witnesses will appear before the Committee:
Session A: Mr. Michael McGrath TD, Mr. Pat O'Connell, President, Cork Business Association; Mr. Jer Buckley, Public Relations Officer, National Forum of Communities Flood Committees and, Mr Paul Kavanagh, Managing Director, McCarthy Insurance
Session B: Mr. Kevin Thompson, CEO, Insurance Ireland and Ms. Swenja Surminski, Senior Research Fellow, London School of Economics
Session C: Mr Michael D'Arcy TD, Minister of State with special responsibility for Financial Services and Insurance and Mr. Kevin 'Boxer' Moran TD, Minister of State with special responsibility for the Office of Public Works and Flood Relief
Committee Chairman, John McGuinness TD, says, “Homes and businesses across the country continue to be affected by flooding and substantial plans must be put in place to face the great challenges flooding brings. Deputy McGrath’s bill would make it compulsory for insurers to offer insurance to areas with a 1 in 100 year flood risk, as determined by the OPW. It also proposes bringing in an appeals process and giving the Financial Services Ombudsman the power to direct insurers to offer cover at a price set by that office. Tomorrow the Committee will scrutinise the bill with the help of expert witnesses and we look forward to a productive meeting.”
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