Dáil Éireann Debate, Tuesday - 21 April 2026
293. Deputy Ryan O'Meara asked the Tánaiste and Minister for Finance for an update on the commitment in the Action Plan on Insurance Reform to develop a long-term approach to flood insurance; and if he will make a statement on the matter. [26618/26]
Amharc ar fhreagraAt the outset, I wish to acknowledge the damage caused by flooding events on communities and businesses across Ireland.
The Government is 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. With respect to Action 17 of the Action Plan on developing a long-term strategic approach to flood insurance, the Department of Finance is currently engaging with multiple stakeholders on the development of a long-term strategic approach to the provision of flood insurance, to consider potential solutions, specific to Ireland, to increase the availability and affordability of flood insurance. This work will build on the extensive research undertaken by the Central Bank of Ireland into the nature and scale of the Flood Protection Gap in Ireland, which identified that approximately 5% of buildings in Ireland have limited access to flood insurance.
My officials will also continue to monitor developments at EU and international level and assess flood insurance matters, including through participation in the OPW and Insurance Ireland Working Group. These matters remain a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry.
