Bandon and other Cork flood victims would benefit from a nationalised insurance company says Anti Austerity Alliance Cllr

7 December 2015
By Elaine Murphy

Anti Austerity Alliance Cork City Councillor Mick Barry said this morning that questions need to be asked about the refusal of the insurance industry to insure the businesses and homes hit by Storm Desmond in places like Bandon over the weekend.

Homes and businesses were devastated by the floods over the weekend but the problem for many owners is compounded by the fact that insurance corporations had refused insurance cover in recent times.


Cllr Barry stole this morning

“The insurance industry offered no protection to the owners of many homes and businesses hit so badly over the weekend. Insurance is a very profitable industry and, in general, profits have been rising in recent times. There needs to be a debate as to whether we want a for-profit insurance industry which refuses cover for vulnerable people or whether we want insurance to be organised on a different basis which takes more account of people’s needs.”

Cllr Barry said that a publicly-owned insurance industry would not be driven by the need to maximise profit for shareholders and could offer insurance protection to many that for-profit insurance turns its back on.

Cllr Barry also sharply criticised the delay in implementing flood relief schemes in places such as Bandon.

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