The UK model is one of a number of options being considered by the government, as Britain has a ten pound annual levy on each household’s insurance premium.
Representatives of the insurance industry are currently meeting with the Taoiseach, the Tánaiste and other Cabinet members to discuss how best to deal with the recent damage caused by flooding, and insurance cover for those affected.
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Businesses hit by flooding report find it increasingly difficult to get insurance.
Minister of State at the Department of Finance, Simon Harris, says he's not in favour of a widespread household insurance levy.
