Dáil Éireann Debate, Tuesday - 29 January 2013
254. Deputy Noel Grealish asked the Minister for Finance the discussions that are ongoing between his Department and insurance companies regarding flood insurance cover for people whose homes flooded in the past. [4168/13]
View answerAt the outset, it should be noted that the issue of flood cover and its unavailability is one which I am familiar with. I am also very conscious of the difficulties that the absence of such cover can causes to householders. The Deputy will be aware, that the issue of provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are accepting. These are often considered on a case by case basis and it is important to be clear that neither the Government nor the Central Bank has any influence over this matter. Consequently I am not in a position to direct insurance companies to provide flood cover to specific individuals.
However, I appreciate the issue the Deputy has raised and believe that there are a number of avenues that can be explored in order to try and resolve this matter satisfactorily. Firstly, individuals can contact the Irish Insurance Federation which operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to insurance. Their service can be contacted at (01) 676 1914 or by email at iis@iif.ie. Furthermore, if there is not a satisfactory outcome as a result of this approach, then there is the option of referring the matter to the Financial Services Ombudsman who deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers. The Office can be contacted at http://www.financialombudsman.ie/ and is a free service to the complainant.
It should be noted that the Office of Public Works is committed to doing all it can to alleviate the impact of flooding through the provision of defences and by taking steps to manage and reduce flood risk in the future through a strategic and sustainable approach under the National Catchment Flood Risk Assessment & Management (CFRAM) Programme. This commitment is underpinned by a very significant capital works investment programme which, along with expenditure on maintenance of arterial drainage schemes, will see up to 250 million euro being spent on flood relief measures over the next five years.
In addition because of the difficulties currently being experienced by householders in certain areas in accessing flood insurance, the OPW has had a number of meetings with the Irish Insurance Federation (IIF). The discussions are aimed with a view to reaching agreement on a sustainable system of information sharing in relation to completed flood alleviation schemes and works undertaken by the OPW or, in certain instances, by local authorities with OPW funding, and where the standard of protection afforded by these works could be verified. This should lead to flood cover being available to those in areas where remedial works have been satisfactorily completed.
