A burnt car next to beachfront homes in ruins along the road to Malibu. Photo: Reuters

Ireland will need a state reinsurer within 10 years to provide cover to homeowners who cannot get home insurance due to flood and storm damage as climate change accelerates, a leading insurer has warned.

“Unless we pay attention to it, some homes may be uninsurable for flood damage,” said Paul Walsh, the spokesperson for Peopl Insurance, which sells home insurance through credit unions. “Many people in ­Ireland are finding that today.”