Bernard Durkan (Kildare North, Fine Gael)
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107. To ask the Minister for Finance if refusal by insurance companies to cover properties in Sallins, County Kildare has been brought to his attention, having particular regard to the fact that this refusal is on foot of the likelihood of flooding which no longer exists due to remedial action; and if he will make a statement on the matter. [12715/17]

Michael Noonan (Limerick City, Fine Gael)
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I am aware of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years in order to minimise this likelihood. 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, and 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 or businesses.

While it is not possible for me to comment in detail on this matter in the absence of details of the particular properties in Sallins, I have been advised by the Office of Public Works that a grant of €500,000 to Kildare County Council was approved on 1st June 2010 for funding towards Flood Alleviation Works, under the Minor Flood Mitigation Works Scheme. Kildare County Council has confirmed that by 2012, this 'Culvert Upgrade and Embankment at Sallins' project was completed which aimed to reduce the risk to the Waterways Estate in particular. I understand that these works were completed to the 1:100 year flood event standard. 

Insurance Ireland has informed me  that its members, since 1 June 2014, have factored data on all completed flood defence schemes, provided by the OPW, into its assessment of flood risk within these areas. This information has been provided as part of an information sharing arrangement entered into between OPW and Insurance Ireland (Memorandum of Understanding). The nature of this arrangement is such that it should lead to a greater availability of flood cover in previously higher risk areas, and at better prices.

The most recent Insurance Ireland survey of approximately 85% of the property insurance market in Ireland indicates that of the 16 completed defence schemes, 90% of policies in areas benefitting from permanent flood defences include flood cover, while 77% of policies in areas benefitting from demountable defences include flood cover. The particular issues in relation to the remainder of policies is actively being explored with the insurance industry through a working group in which the OPW, the insurance industry and the Department of Finance participate. Further meetings of this group are scheduled this month.

Finally, you should be aware that a consumer can make a complaint to the Financial Services Ombudsman in relation to any dealings with a Financial Services or Insurance provider during which they feel they have been unfairly treated. In addition, individuals who are experiencing difficulty in obtaining flood insurance or 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.