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14/01/2016

Insurance Firms Slammed For Refusing Flood Cover

Labour has slammed insurance firms for refusing to provide flood cover in areas where remedial defence works have proved effective.

Labour TD Joe Costello said because certain areas of Dublin flooded in the past they remain no-go areas as far as the insurance companies are concerned.

Mr Costello said: "They refuse to do a risk assessment on the new set of circumstances. They simply won't include flood cover on the insurance premium. People buying a home in Dublin 3 or parts of Dublin 7 in my constituency are treated like pariahs by the insurance companies when they ask for flood cover on their premium. This is intolerable.

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"The insurance industry cannot be allowed to continue to operate in this high-handed fashion. Where the local authority and OPW can demonstrate the extent and effectiveness of the flood defence works the insurance companies should be obliged – by legislation if necessary – to include flood insurance cover on all premiums."

(CD/LM)

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