Chair of the Public Accounts Committee and Sinn Féin TD for Wicklow, John Brady, has called on the government to urgently back the Flood Insurance Bill, which he introduced to the Dáil in 2021.
The call comes after reports that Tánaiste and Minister for Finance Simon Harris is expected to bring a memo to Cabinet in the coming weeks proposing that an external chairperson be appointed to head a flood insurance protection gap working group to examine gaps in flood protection insurance, with a growing number of homes in high-risk areas unable to obtain affordable premiums.
The Flood Insurance Bill, designed to compel the insurance industry to provide homeowners and businesses with insurance cover in flood-affected areas, was blocked at second stage by the government in June 2023, when they moved a timed amendment.
Teachta Brady said:
“Back in January, Storm Chandra laid bare how exposed many of our citizens and their homes and businesses are to extreme weather and flooding.
“In 2021, I introduced the Flood Insurance Bill with the intention of safeguarding the rights of property owners in flood-affected areas by promoting fairness within the property insurance market, particularly by tackling discriminatory practices by insurers.
“The Bill aimed to require insurance companies to provide buildings and flood cover to homeowners and businesses in areas that had previously experienced flooding.
“Despite the urgency of the situation, the government disgracefully employed their favoured tactic of using their numbers in the Dáil to kick this vital legislation down the road by moving an amendment designed to delay and obstruct the Bill.
“After pulling every lever available to block and delay the passage of the Flood Insurance Bill for the past five years, the government now wants to establish yet another working group to discuss a major issue.
“Homeowners and businesses who have been devastated by flooding do not need another review, another committee or another delay tactic. They need urgent action.
“If the government had not blocked this legislation at the time, many of those most severely affected by recent flooding would already have access to insurance cover.
“In recent weeks, I have been successful in having the Bill reinstated to committee stage and I am working to progress it further.
“Rather than more reports and endless discussions, the government must now stop blocking this legislation and allow it to move forward without further delay.
“I call on all deputies, but particularly those in government, to stand with those who have fallen foul of the greed of the insurance industry.
“It is ludicrous that the government continues to allow insurance companies to get away with denying cover to families and businesses simply because they live in areas affected by flooding.
“Homeowners and businesses must have their right to insurance cover honoured.”