Written answers

Wednesday, 16 December 2015

Department of Finance

Insurance Industry Regulation

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
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66. To ask the Minister for Finance his views on correspondence (details supplied) regarding flood insurance; and if he will make a statement on the matter. [45520/15]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I am aware of the difficulties that the absence of flood insurance cover can cause to householders and businesses. However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation.  Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide flood cover to specific individuals.

The Government's strategy on insurance and flooding is focussed on ways to address the increased availability of flood insurance.  This involves:

a) prioritising spending on flood relief measures;

b) development and implementation of plans by the Office of Public Works (OPW) to implement flood relief schemes; and

c) the transfer of data in relation to completed flood defence schemes to the insurance industry by the OPW. 

Progress is continuing on the implementation of this strategy.

Officials in my Department have consulted with the OPW regarding completed flood relief works in the Dublin area and I am informed that the River Tolka Dublin City Flood Relief Scheme provides protection against tidal and fluvial flooding to the East Wall area.  Details of the protected areas, as provided to Insurance Ireland, are available at

Individuals who are experiencing difficulty in obtaining flood insurance and who believe that they are being treated unfairly, may contact Insurance Ireland which operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to insurance.  This service can be contacted at (01) 676 1914 or by email at 


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