Michael Ring (Mayo, Fine Gael)
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239. To ask the Minister for Public Expenditure and Reform if he will investigate the reason flood risk is being excluded from insurance policies for households in an area (details supplied) in County Mayo in view of the extensive flood mitigation works which were carried out in this area, the significant Government funding which was allocated for these remedial works, the standard of the works which were carried out and the positive impact of same; and if he will make a statement on the matter. [9619/23]

Patrick O'Donovan (Limerick County, Fine Gael)
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The OPW's Minor Flood Mitigation Works and Coastal Protection Scheme provides funding to local authorities to undertake minor flood mitigation works or studies, costing up to €0.75 million each, to address localised flooding and coastal protection problems within their administrative areas.

Under this scheme, the OPW has provided funding to Mayo County Council for the construction of embankments in the Carraholly area to protect individual properties from coastal flooding.

The Department of Finance has overall responsibility for policy matters in relation to insurance and has provided the following information for inclusion in the response to this PQ:

"It should be noted that the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies providing the service and is based on an assessment of the risks that such companies are willing to accept. Under the EU Solvency II Directive, neither the Minister for Finance, nor the Central Bank of Ireland can compel insurers to provide such cover.

The Government continues to engage on all aspects of insurance reform, including flood insurance. These matters are a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry in regard to this issue."