Taoiseach wants answers on lack of insurance cover
Published 09/01/2016 | 02:30
Taoiseach Enda Kenny will demand answers from the insurance industry at a crunch meeting next week as to why homeowners and businesses are unable to secure cover in areas where flood defences have been installed.
Mr Kenny said that while companies had a "genuine interest" in reducing risk, there was a "contradiction" where the industry insisted that properties were being covered, despite claims from affected owners to the contrary.
"Insurance companies don't mind paying out but I suppose they have a genuine interest in seeing that they can recover that and whether the premium meets that recovery or not," he said.
"This will be the first time, as far as I can recall, that we're going to have a meeting with the insurance companies about an issue that affects quite a number of people at the moment.
"I want to hear them...address the contradiction that I hear from insurance companies saying that places are being re-insured and businesses telling me that they can't get insurance.
"I think we'll have a good discussion about that to see what is the best outcome that we can have so that people will be able to be insured both for their homes and their premises."
The comments come after the body representing the insurance industry, Insurance Ireland, said the Government must build defences before insurers will agree to any new scheme to help flooding victims.