Flood insurance legislation
Deputy O’Dea asks whether future insurance legislation will require flood cover and whether an industry memorandum is being signed; the Taoiseach defers discussion to the planned flooding debate and cannot confirm the memorandum.
In regard to an earlier response, is it the intention of the Government to include in the forthcoming insurance Bill, whenever it is produced, a provision along the lines of legislation which is going through the British House of Commons currently, to compel insurance companies to insure against flooding? Also, will the Taoiseach confirm or deny that the Government has signed or intends to sign a memorandum of understanding with the insurance industry?
Comment on this
I do not want to comment on the potential content of a particular Bill. We will have a debate next week on the implications of flooding. The insurance Bill is not due for quite some time, but these matters will be raised. I am not in a position to comment on whether a memorandum of understanding is about to be signed. Deputy McDonald brought this to my attention, but I do not have information to hand on that.