Tom Parlon (Laois-Offaly, Progressive Democrats)

I am not in a position to intervene with insurance companies about the level of premiums or any risks it is willing or unwilling to underwrite. The appropriate regulatory body for the industry is the Irish Financial Services Regulatory Authority. In November 2002 I initiated a major review of the State's approach to flooding with the primary objective of developing a cohesive national flooding policy. I met with the Irish Insurance Federation, IIF, on 6 December 2002. The IIF welcomed my decision to initiate the review of policy and outlined its views and concerns about the increasing risks from flooding. I indicated that the State would play its part in risk reduction and that the insurance industry would in turn be expected to act in a responsible manner.

I invited the IIF to make a submission to the review group which I established to carry out the policy review. A submission was received and OPW officials subsequently met with the IIF to clarify certain aspects of that submission. These discussions, along with all others involved in the consultation process carried out as part of the policy review, have contributed to the work of the review group. Its report is currently being considered by Departments before being submitted to Government in the near future. I am confident that the recommendations of the report can lead to a much improved flood management regime in Ireland and will in the long term substantially mitigate the impact of flooding on our society.

One of the key components of future flood management strategy is the development of flood maps. These provide valuable information to assist in numerous decision-making processes such as planning and development, flood works prioritisation and assessment of risk. The OPW has commenced work on a flood mapping programme, the first phase of which will be completed in 2005. I remain confident that the increased availability of flood information arising from the production of flood hazard maps and implementation of the other recommendations contained within the report of the policy review group, will reduce exposure to risk from flooding.

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