Dáil Éireann Debate, Tuesday - 28 April 2015
143. Deputy Dominic Hannigan asked the Minister for Public Expenditure and Reform his plans to expand the memorandum of understanding on flood defence data with Insurance Ireland to a river (details supplied) in County Meath; if it will have any impact on an estate in County Meath; and if he will make a statement on the matter. [16351/15]
View answerThe Memorandum of Understanding between Insurance Ireland and the Office of Public Works (OPW), which was signed on 24 March 2014, provides that the OPW furnish Insurance Ireland with data on all completed OPW flood defence schemes showing the design, extent and nature of the protection offered by the works, and that Insurance Ireland members will take into account all information provided by the OPW when assessing exposure to flood risk within these areas. To date, data on 16 completed schemes has been provided to Insurance Ireland.
The Castle River in County Meath forms part of the completed River Tolka Flood Relief Scheme. Data on this Scheme has already been forwarded to Insurance Ireland as part of the first tranche of information provided under the Memorandum of Understanding. It is now a matter for Insurance Ireland members to take into account all information provided by the OPW when assessing exposure to flood risk within these areas. It is important to emphasise, however, that the OPW has no role or function in relation to the oversight or regulation of the insurance industry or of insurance matters generally. Insurance companies make commercial decisions on the provision of insurance cover based on their assessment of the risks they are prepared to accept on a case-by-case basis.
