Sir, – Insurers in Ireland refuse to cover premises that have been subject to flooding in the past.
This means the taxpayer is on the hook to pay the increasing cost and frequency of flood compensation claims.
When insurers in California refused to cover earthquake claims following a devastating earthquake in 1994, the state government stepped in to make it mandatory on insurance companies to offer earthquake cover to all households. The state set up the California Earthquake Authority in 1996, which is publicly managed but privately funded by 22 insurance companies. It now has one million policyholders and hold s two- thirds of the earthquake insurance market.
Maybe it is about time the Government here intervenes in the flood insurance market. – Yours, etc,
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ALAN MCCARTHY,
Dublin 6.
