Dáil Éireann Debate, Tuesday - 21 April 2026
250. Deputy Cormac Devlin asked the Tánaiste and Minister for Finance the progress that has been made to ensure that insurance companies are recognising the significant capital expenditure in flood defences and are acting accordingly in relation to flood cover; and if he will make a statement on the matter. [26620/26]
Amharc ar fhreagraAt the outset, I wish to acknowledge the serious damage caused by flooding events, and the impact it has had have on families, communities, and businesses across Ireland.
The Government remains committed to protecting Ireland’s present and future generations by investing in climate adaptation measures to manage the impacts of extreme weather. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the National Development Plan to 2030. This will protect approximately 23,000 properties across various communities from river and coastal flood risk.
The Action Plan for Insurance Reform 2025-2029 includes 4 specific actions on flood and climate protection. According to EU level data, Ireland has an above average rate of flood cover relative to the EU. However, it is acknowledged that some households are still experiencing difficulties, particularly in areas with demountable flood defences which require varying degrees of human intervention in their operation.
Where Government has invested in flood defences, it is expected that industry should improve the level of cover in areas where flood defences exist. Work is being progressed through the working group between the Office of Public Works (OPW) and Insurance Ireland. Furthermore, officials in my Department; the Department of Housing, Local Government and Heritage; along with other stakeholders engage constructively with this process on how the levels of insurance cover might be improved in areas where flood defence works have been completed.
Minister of State Troy recently met with the Minister of State in the Department of Housing, Local Government and Heritage and the Minister of State at the OPW to discuss the progression of a formal agreement between the OPW and relevant local authorities in relation to completed flood relief schemes, to address the issue of coverage in areas protected by demountable flood defences.
In the context of the Government’s Action Plan for Insurance Reform the Department of Finance is also currently engaging with multiple stakeholders on the development of a long-term strategic approach to the provision of flood insurance, working with the Central Bank of Ireland and the Insurance Ireland Flood Policy Taskforce to consider potential solutions, specific to Ireland, to increase the availability and affordability of flood insurance.
Government will continue to engage with all relevant State bodies to consider how risks relating to the flood insurance protection gap can be mitigated, including for example through the mitigation and adaptation work carried out by the OPW.
These matters remain a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry.
