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06 Dec 2021

Insurance Bill tackling 'blatant unfairness' in flood-affected areas passes 1st stage

Insurance Bill tackling 'blatant unfairness' in flood-affected areas passes 1st stage

Insurance Bill tackling 'blatant unfairness' in flood-affected areas passes 1st stage

A Flood Insurance Bill tackling "blatant unfairness" in flood-affected areas has passed its first stage in the Dáil. 

The Bill aims to help people in areas where remedial work has been carried out by the Office of Public Works (OPW) to prevent flooding, but who still face discriminatory practices by insurance companies. 

Deputy John Brady TD introduced the Bill and said, "The failure of the insurance industry to provide insurance cover to homeowners in flood-affected areas that have been remedied is simply outrageous and totally unacceptable. This legislation will end this unfair practice by the insurance industry." 

According to the deputy, the legislation will entitle property owners to bring complaints to the Financial Services Ombudsman if they believe companies are attempting to overcharge for premiums, or if they have "unreasonably" been denied insurance. 

Deputy Brady spoke of the closure of a local business in Wicklow whose insurance premium jumped from €26,000 to €88,000 per year. He said, "Without insurance businesses cannot survive. Without business and commerce, our communities will not survive." 

The Bill moved unopposed to the second stage. 

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