State intervention possible if insurers don't respond positively to investment in flood relief

A Government taskforce has been set up to examine possible State intervention if the insurance industry does not respond positively to massive investment in flood relief schemes.

Simon Harris, minister of state at the Office of Public Works (OPW), revealed the move as he unveiled plans yesterday for a €15m flood relief scheme in the Blackpool area of Cork City — an insurance blackspot following years of repeat flooding incidents.

“I hope and expect that when a scheme is completed, like here in Blackpool, that it will be positively reflected in relation to insurance. We’re going to spend more money on flood relief over the next five years than we have in the last 20 years.