Cathal Crowe (Clare, Fianna Fail)
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274. To ask the Minister for Finance if he will intervene to ensure that a person (details supplied) who cannot get flood protection insurance but whose area has not flooded in their 32 years of ownership, can be provided with flood insurance in order that they can sell their house. [13312/25]

Cathal Crowe (Clare, Fianna Fail)
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275. To ask the Minister for Finance if he will intervene to ensure that a person (details supplied) who cannot get flood protection insurance but whose area has not flooded in many years, can be provided with flood insurance in order that they can purchase a property they have been renting for eight years. [13313/25]

Cathal Crowe (Clare, Fianna Fail)
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276. To ask the Minister for Finance if he will intervene to ensure that a person (details supplied) who cannot get flood protection, but whose area has never flooded, can be provided with flood insurance in order they can sell their apartment. [13315/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 274 to 276, inclusive, together.

As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector.

As you will appreciate, I cannot comment on individual cases or intervene in disputes that individuals may have with their bank or insurance provider.

In relation to the general issue of mortgages, there is a broad legal and regulatory framework which governs the provision of residential mortgage credit to consumers. However, within this general regulatory framework it is then a commercial matter for individual lenders to determine their own lending policies and loan underwriting criteria, including in relation to the nature and type of collateral acceptable for mortgage lending purposes. Therefore, the decision to grant or refuse a mortgage application, or to set any appropriate conditions which will have to be fulfilled in order to drawdown mortgage credit (such as a requirement on the prospective borrower to obtain and put in place an appropriate policy of insurance on the property which is to act as security for the mortgage loan) is a business matter for an individual lender.

In terms of the challenges associated with obtaining flood cover, please be aware that the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are willing to accept. Government cannot interfere in the provision or pricing of insurance, or direct as to what cover is provided, as is reinforced by the EU framework for insurance (Solvency II Directive).

Insurance Ireland has previously informed the Department of Finance that insurers will generally take into account the claims history of the individual risk when deciding what underwriting action to take. Insurers also assess the risk of flooding in the area and consider any flood protection measures implemented by the OPW or local authorities when making their underwriting decisions. The decision on whether to offer insurance, level of premiums charged, and the policy terms applied are matters for individual insurers. Insurance companies make commercial decisions on the provision of insurance cover based on their assessment of the risks they would be accepting on a case-by-case basis.

As reinforced by the new Programme for Government, the Government remains committed to protecting Ireland’s present and future generations by investing in climate adaptation measures to manage the impacts of extreme weather. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the National Development Plan (NDP) to 2030. This will protect approximately 23,000 properties across various communities from river and coastal flood risk. Nationally, 55 schemes have been completed, at a cost of some €550m, which are providing protection to over 13,000 properties and an economic benefit to the State in damage and losses avoided estimated to be in the region of €2 billion.

It may also be advisable for constituents to check for alternative insurance quotes and, in this regard Brokers Ireland, the representative body for insurance brokers in Ireland, can be contacted contacted at insurancequeries@brokersireland.ie for advice in sourcing cover from a wide range of providers and products. Insurance Ireland operate an Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance and can be contacted atfeedback@insuranceireland.eu.

If a mortgage or insurance applicant is not satisfied with how a regulated firm is dealing with them in relation to an application for credit or the provision of insurance, or they believe that the regulated firm is not following the requirements of the Central Bank’s codes and regulations or other financial services law, they should make a complaint directly to the regulated firm.

If the consumer is still not satisfied with the response from the regulated firm, he or she can refer the complaint to the statutory Financial Services and Pensions Ombudsman (FSPO). The FSPO acts as an independent arbiter of disputes that consumers may have with their insurance company or other financial service provider. The FSPO can be contacted either by email at info@fspo.ie or by telephone at 01-567-7000.

The Department of Finance will continue to monitor and assess flood insurance matters, including through its participation in the OPW and Insurance Ireland Working Group. Minister of State Troy recently met with the CEOs of the major insurers where he strongly emphasised to industry the need to take a reasonable approach to the provision of cover where properties are proven to be in low risk areas, including after investment in flood defences.

I wish to assure the Deputy that these matters remain a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry.