Jim Daly (Cork South West, Fine Gael)
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296. To ask the Minister for Public Expenditure and Reform the progress made in relation to insurance companies providing building insurance to properties located in areas that are now protected by substantial flood defence schemes provided by the Office of Public Works; and if he will make a statement on the matter. [34278/15]

Simon Harris (Wicklow, Fine Gael)
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The Office of Public Works (OPW) has no role or function in relation to oversight or regulation of the insurance industry. Insurance companies make commercial decisions on the provision of insurance cover based on their assessment of the risks they are prepared to accept on a case by case basis.

The Memorandum of Understanding between the OPW and Insurance Ireland, which was signed on 24th March 2014, outlines the principles of agreement between the parties on the provision of information to insurers to facilitate, to the greatest extent possible, the availability to the public of insurance against the risk of flooding. The OPW is committed to providing Insurance Ireland with data on all completed OPW flood defence schemes showing the design, extent and nature of the protections offered by these works. Insurance Ireland members will then take into account all information provided by the OPW when assessing exposure to flood risk within these areas.

In accordance with the Memorandum, the OPW has provided Insurance Ireland with data on the following sixteen completed OPW flood defence schemes.

- River Suir, Clonmel, Co. Tipperary

- River Dodder Tidal, Dublin City

- River Tolka, Dublin City

- River Tolka, Dublin Fingal

- River Tolka, Meath

- River Nanny, Duleek, Co. Meath

- River Bandon, Dunmanway, Co, Cork

- River Fergus Upper, Ennis, Co. Clare

- River Blackwater, Fermoy, Co. Cork

- River Nore, Kilkenny City

- River Mornington, Mornington, Co. Meath

- River Tullamore, Tullamore, Co. Offaly

- Munster Blackwater, Mallow South and West, Co. Cork

- Hazelhatch, Celbridge, Co. Kildare

- Derrymullen, Ballinasloe, Co. Galway

- Carlow

Details of the information provided to the Insurance Sector is available on the OPW website, .

An initial survey by Insurance Ireland indicated that flood risk insurance is widely available in areas where flood relief schemes have been completed by the OPW. The survey, which covered a period of seven months from the operational date of the Memorandum of Understanding, found that, in areas benefitting from flood defence schemes of which OPW had supplied data, 77% of household and small business policies included flood cover. I understand that Insurance Ireland has carried out a further survey to provide updated information, and I look forward to receiving details of the results of this survey in the near future.