EC investigation into flooding insurance schemes gets go-ahead

AN investigation into insurance schemes designed to cover national disasters, including flooding, has been announced by the European Commission.

Flood victims throughout the south of Ireland especially have been hit with massive hikes in their premiums, MEP Seán Kelly told the European Parliament, and asked what the EU could do about it.

“The insurance market has failed the small businesses and households of Cork city, Clonmel, Skibbereen and Bandon and many other areas afflicted by the recent crisis.