Dáil Éireann Debate, Tuesday - 31 January 2012
161 Deputy Joan Collins asked the Minister for Finance if he will fund a house insurance scheme for those who cannot access flood insurance due to repeated flooding; and if he will make a statement on the matter. [37727/11]
Amharc ar fhreagraI have no plans to introduce a type of Government backed insurance scheme outlined by the Deputy. The possible introduction of a scheme to protect householders who cannot obtain flood insurance from insurance companies was examined in 2010. However, at that time the Government concluded that such an approach was not financially viable. In particular, there were concerns that, over time, such a scheme could incentivise the insurance industry to discontinue the provision of flood cover in medium and high risk areas, thereby making the cost of such a scheme prohibitive.
I am advised by the Minister of State with responsibility for the Office of Public Works, that the OPW continues to liaise with the Irish Insurance Federation, to ensure that the Federation and its members have access to up-to-date information on flood protection measures. The Minister of State has also advised me that he intends to arrange a meeting with representatives of the insurance industry early this year to provide a forum for the effective interchange of information and opinions in relation to flood risk management.
