Maureen O'Sullivan (Dublin Central, Independent)
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202. To ask the Minister for Finance if his attention has been drawn to current problems faced by potential home buyers in traditionally flood prone areas that have had substantial remedial works to tackle flooding, in receiving quotes for home insurance; the outcomes that have come from talks between his Department, the OPW and the Irish Insurance Federation; and if he will make a statement on the matter. [16444/17]

Michael Noonan (Limerick City, Fine Gael)
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I am conscious of the difficulties that the absence of flood cover can cause to householders and businesses alike. 

However, the provision of insurance is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and then ensuring that they have adequate provisioning to meet those risks.

Insurance Ireland has informed me that its members, since 1 June 2014, have factored data on 16 completed flood defence schemes, provided by the OPW, into its overall assessment of flood risk. In the last number of weeks, information on the completed scheme in Waterford has also been provided to Insurance Ireland. This information has been provided as part of the 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. In this regard, the Insurance Ireland/OPW working group, which the Department of Finance attends, now meets on a quarterly basis to support the information flow and to improve the understanding of issues between both parties.

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 there has been an increase from 66% to 77% of policies in areas benefitting from demountable defences including flood cover.

A sub-group has also been set up to explore the technical and administrative arrangements that may allow for the further sharing of data on flood insurance cover for those 300 areas where OPW has mapped flood risk through the CFRAM programme. The first meeting of this sub-group was held in January.

Following a meeting last July between Minister of State Canney and Insurance Ireland it was agreed that information and data on the deployment protocols, warning systems and emergency response systems in place where demountable defences are utilised would be provided to industry. The purpose of this information is to enable the industry reassess the overall level of risk with demountable flood defences in this context. It is hoped that this data will provide the robust information required for industry to reduce the risk it has associated with demountable defences and increase the levels of cover for these areas. It should be noted that this information has in the last number of weeks been provided to Insurance Ireland. The provision of information and data relating to other areas are subject to ongoing discussions.

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.