New levy for sustainable flood insurance fund proposed
The industry group says the plan would help keep flood cover available as climate change raises losses and leaves about 5% of households struggling to insure.
6 Articles
6 Articles
Insurance Ireland defending levy for flood insurance fund
Michael Horan, Manager for Regional and Policy Development with Insurance Ireland, told Newstalk Breakfast that the four-point plan was“fundamentally about keeping Irish homes insurable, mortgageable and saleable as flood risk changes.
'Flood Levy' could result in increase in home insurance
Residents at risk of flooding say a proposed new flooding levy could change their lives. Insurance Ireland is proposing a levy of €24 per insured household, which would go towards a sustainable flood insurance fund. It would allow homeowners to continue access flood cover even in high-risk areas. Previously many people in Clonmel in particular […] The post ‘Flood Levy’ could result in increase in home insurance appeared first on Tipp FM.
Solutions proposed to close flood insurance protection gap
Insurance Ireland has proposed a solution to close Ireland's flood insurance protection gap as flooding becomes increasingly regular. The insurance industry body's flood policy taskforce has developed a national framework to address difficulties households have in obtaining flood cover. Research by the Central Bank of Ireland indicates that one in 20 properties struggle to take out flood cover, making those homes more difficult to mortgage or se…
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