Episode Details

Insurance Ireland is pushing for a bold new plan to fix the flood insurance crisis, proposing a small $24 annual levy per household to fund disaster response — without raising costs for most people. With climate change making floods more frequent and severe, this levy would help ensure coverage in high-risk areas, tackle the 5% of homes already struggling to get insured, and support mortgage access and property sales. Beyond insurance, they’re calling for smarter, flood-resistant homes with features like raised outlets and flood doors, plus responsible development that avoids creating new flood zones. A dedicated national flood agency would manage funding, assess risks, and coordinate efforts — crucial since just a few homes account for massive potential losses, with one major event possibly costing over $800 million. The government has formed a new working group to explore these solutions, aiming for a unified national strategy to protect homeowners and build resilience against rising waters.

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