{
  "id": 3609288,
  "title": "New levy for sustainable flood insurance fund proposed",
  "url": "https://urgent.news/2026/08/26/new-levy-for-sustainable-flood-insurance-fund-proposed",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-26T23:01:00.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/ireland/2026/0827/1589375-flood-insurance/"
  },
  "original_language": "en",
  "account": "Insurance Ireland has proposed a new €24 levy per household to fund a sustainable flood insurance system, aiming to tackle Ireland's protection gap and rising flood risks due to climate change. The new levy is part of a comprehensive set of measures suggested in a report by the insurer lobby group, which claims the scheme would enable homeowners to access sustainable flood insurance, even amidst escalating flood risks. Insurance Ireland argues that the fund should prioritize higher-risk areas, providing flood coverage where it's otherwise unavailable. The proposed levy could be introduced alongside existing levies with minimal additional cost to the average household, according to the group. Research from the Central Bank reveals that approximately 5% of households struggle to obtain flood insurance, impacting their ability to secure mortgages or sell properties. Insurance Ireland also proposes measures to enhance homes' resilience to flooding, such as installing flood doors, barriers, and raised flooring. Additionally, the group advocates for responsible housing development, stronger flood risk prevention, and improved coordination between stakeholders. A dedicated flood agency would oversee the framework, managing the fund, scoring flood risks, and facilitating stakeholder coordination. Insurance Ireland's Chief Executive, Moyagh Murdock, emphasized that flooding is now a broader challenge encompassing housing, climate resilience, and financial stability that demands a national response. The industry seeks to collaborate with government, state agencies, lenders, and other stakeholders to develop a nationwide framework that safeguards homeowners and strengthens Ireland's resilience to a changing climate.",
  "summary": "Insurance Ireland is proposing a new levy of €24 per household to be placed into a \"sustainable flood insurance fund\" to address what it calls \"Ireland's flood insurance protection gap\".",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}