Moral hazard linked to any State pyrite responsibility

Wed, Jul 25, 2012, 01:00

A moral hazard would be created if the State were to assume responsibility for structural damage caused to homes by pyrite, the chairman of the State’s Pyrite Panel Brendan Tuohy told an Oireachtas committee.

Those who had caused the problem must pay for it to be fixed, including builders, insurers and the quarries from which contaminated material was taken, Mr Tuohy told the Oireachtas environment committee yesterday. The Pyrite Panel report published last week identified more than 12,000 homes whose foundations are believed to contain the structurally damaging mineral.

Mr Tuohy said it was vital the structural problems due to pyrite be dealt with immediately. One option in seeking a solution would be to levy the quarry industry, he said. He urged home guarantee company Homebond to become involved.