James Geoghegan (Dublin Bay South, Fine Gael)
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25. To ask the Minister for Finance if he will engage with an organisation (details supplied) to ensure that properties in strategically important growth zones can obtain flood insurance; and if he will make a statement on the matter. [28160/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As Minister of State with special responsibility for Insurance matters, I am very conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses.

Current Government policy is focused on the development of a sustainable, planned and risk-based approach to managing flooding. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the National Development Plan to 2030.

This investment is complemented by a Memorandum of Understanding (MoU) between the Office of Public Works (OPW) and Insurance Ireland. The Department of Finance will continue to engage with the OPW and Insurance Ireland regarding this MoU and flood insurance matters through its participation in the Working Group established for this MoU.

I have also met with Insurance Ireland and the CEOs of the main insurers in the Irish market this year. During these meetings, I have reiterated the expectation that insurers take a reasonable approach to the provision of cover where properties are proven to be in areas protected by flood defences.

Government is also developing a new Action Plan for Insurance Reform, and the public consultation phase (which recently concluded) sought feedback from stakeholders on how to address the climate insurance protection gap.

The new Action Plan for Insurance Reform will focus on encouraging further competition in the market and working with stakeholders to enhance availability and affordability across all types of insurance, including flood insurance.