Finian McGrath (Dublin North Central, Independent)
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Question 57: To ask the Minister for Finance if he will support a matter (details supplied) in Dublin 5. [47836/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am aware that because of previous claims experience, householders in different parts of the country, including areas in Dublin, have found it difficult to obtain insurance against flood damage. This is because the decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter based on the assessment an insurer will make of the risks involved and is one which neither I nor the Financial Regulator have any influence over. This risk assessment process which insurance companies apply is essential if a company is to be able to provide its services over the longer term and continue to remain solvent. Unfortunately, this means on occasions they have difficulty approving certain types of business because the risk of claims based on previous experience is too high.

It should be noted however that the Government is very conscious of the difficulties caused to certain householders by their inability to obtain insurance against flood damage. This is a problem which will almost certainly have been exacerbated by the recent flooding and consequently will have to be considered as part of its broader review of this general area.