I am very much aware of the difficulties that the absence of flood insurance cover can cause to householders and businesses. However, neither I nor the Central Bank of Ireland, have the power to direct insurance companies to provide flood cover to specific individuals.
With this in mind, the Government's strategy on insurance and flooding is focused on ways to address the increased availability of flood insurance. This involves:
a) prioritising spending on flood relief measures;
b) development and implementation of plans by the Office of Public Works (OPW) to implement flood relief schemes; and
c) the transfer of data in relation to completed flood defence schemes to the insurance industry by the OPW.
Progress is continuing on the implementation of this strategy which was agreed in 2010. For example, the OPW is carrying out an assessment of flood risk throughout the country under the National Catchment Flood Risk Assessment & Management (CFRAM) Programme.
This programme includes the production of a comprehensive suite of flood risk maps and the development of flood risk management plans for the areas most at risk. The plans will consider the best possible options, both structural and non-structural, for dealing with the risks on a long-term basis.
My Department continues to contribute to the whole-of-Government approach to the flooding issue via the work of the Inter-Departmental Committee on Flooding which is being led by the OPW, under the aegis of the Department of Public Expenditure and Reform. This Committee is due to report to Government on the current strategy on flooding, including insurance, in Spring 2016.
