Dáil Éireann Debate, Friday - 16 September 2016
934. Deputy Michael McGrath asked the Minister for Public Expenditure and Reform the status of the flood insurance models report developed by the OPW; when the report will be published; the timeline for actions arising; and if he will make a statement on the matter. [26403/16]
View answerIn March 2014, a Memorandum of Understanding was signed between Insurance Ireland (II), the representative body for the insurance industry in Ireland, and the Office of Public Works (OPW). This Memorandum sets out principles of how the two organisations will work together to ensure that appropriate and relevant information on completed OPW flood defence schemes is provided to insurers to facilitate, to the greatest extent possible, the availability to the public of insurance against the risk of flooding. II members have committed to take into account all information provided by OPW when assessing exposure to flood risk within these areas.
The Memorandum came into effect on 1 June, 2014 with an initial tranche of data provided by the OPW to II in respect of 12 completed flood defence schemes and showing the design, extent and nature of the protection offered by these works. A further tranche of data was provided to II in January 2015 covering a further 4 completed flood defence schemes. OPW will continue to provide data to II as flood defence schemes are completed.
Insurance Ireland estimates that flood cover is included as standard in 98% of household insurance policies throughout the country. II has carried out a number of surveys among its members to ascertain the extent to which flood insurance cover is available in the areas for which OPW has provided data on completed flood defence schemes. The results of the most recent survey were provided in January of this year; they indicate that 83% of property insurance policies in these areas include cover against flood risk. Where the defences are permanent in nature the percentage is 89%; where demountable defences are used the percentage is 78%.
I met recently with Insurance Ireland to stress the need for flood victims to have the best possible chances to be able to obtain insurance cover at reasonable cost. I highlighted that OPW schemes using demountable defences are built to the required standard and to provide robust levels of flood protection to properties. I welcome a commitment given to me by II to assess the risk from the deployment protocols, warning systems and emergency response systems in place.
Following that meeting, II has recently written to me setting out the range of data its members require to be able to assess the risk associated with these defences. II has sought detailed data in relation to adequacy and resourcing of flood warning systems; and mobilization, efficacy, maintenance and development of demountable defences. My officials will be providing the data sought over the coming weeks.
