Up to 50,000 Irish homes have either no flood cover or are at serious risk of losing it, while insurance companies operate a cartel to maximise their profits, an Oireachtas committee heard yesterday.

Minister for State at the Office of Public Works Brian Hayes has asked residents in flood-affected areas to help his department find out how many homeowners are being refused house insurance.

A TOWN ravaged by last year’s winter floods is setting up a national body to help and lobby for flood-risk communities.