William Aird (Laois, Fine Gael)
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64. To ask the Minister for Finance if steps are being taken to establish a national flood insurance scheme to protect homeowners, renters and businesses increasingly exposed to flood risk; and if he will make a statement on the matter. [40692/26]

Simon Harris (Wicklow, Fine Gael)
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According to EU level data, Ireland has an above average rate of flood cover relative to the EU. However, I acknowledge that some households are still experiencing difficulties, particularly in areas with demountable flood defences which require varying degrees of human intervention in their operation.

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.

In terms of flood insurance, the Central Bank of Ireland has undertaken extensive research into the nature and scale of the Flood Protection Gap in Ireland. They found that 1 in 20 buildings (approximately 5%) have limited access to flood insurance; and that 54% of this gap is concentrated in Dublin, Cork, Louth, Clare, and Kildare. The Central Bank are of the view that Ireland has “broadly managed flood risk to date” and the Report also notes that no single solution exists to address the flood protection gap.

Building on the work carried out by the Central Bank, the Action Plan for Insurance Reform 2025-2029 includes 4 specific actions on flood and climate protection. With respect to Action 17 of the Action Plan, the Department of Finance is currently engaging with multiple stakeholders on the development of a long-term strategic approach to the provision of flood insurance, to consider potential solutions, specific to Ireland, to increase the availability and affordability of flood insurance. An update was provided at the Cabinet Sub-Group on Insurance Reform in May.

Following discussions at the Cabinet Sub-Committee on Insurance Reform it was agreed that a Flood Insurance Protection Gap Working Group would be established, with an independent Chair to include relevant public and private stakeholders, Departments and agencies. The establishment of the Group is being progressed and further updates will be provided at the next Cabinet Sub-Group on Insurance Reform.

My officials will also continue to monitor developments at EU and international level and assess flood insurance matters, including through participation in the OPW and Insurance Ireland Working Group. These matters remain a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry.