Homeowners may benefit as State provides insurers with flood defence plans

Brian Hayes: data will help insurers re-enter market

A new deal has been signed to offer relief to some property owners where flood defences have been erected.

The Office of Public Works is to provide Insurance Ireland with details on where works have been carried out.

Insurance companies have agreed to take the information into account when assessing exposure to flood risk.

Damage caused by flooding in recent years has made it increasingly difficult for homeowners to obtain insurance.

€370m has been spent since 1995 on defence schemes, which have protected over 10,500 properties.

Minister Brian Hayes, with responsibility for the Office of Public Works, admitted the new development does not guarantee insurance will be offered, but will help.

"The systematic and verifiable exchange of information from the OPW to the industry, will, I believe help underwriters … to re-enter the market again," he said.

He also said, however, that it would only help "where they see the State producing an engineering and hydrological solution that actually resolves a problem."

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