Flood victims criticise ‘greed’ of insurance firms

INSURANCE companies are refusing to give cover to residents in the greater Drumcondra area of Dublin despite huge work undertaken to ensure there will not be a repeat of the devastation caused by flooding.

One year since the flooding, residents are furious that the insurance companies have exploited the situation by massively increasing premiums, imposing penalties, excluding homes from future flood and storm damage or refusing cover altogether.

With all the work already undertaken to build flood defences and further works in the pipeline residents, many of whom are elderly and totally reliant on State pensions, believe there is no case that insurance companies can make for making excessive amounts of money out of their hardship.