161. Deputy Noel McCarthy asked the Tánaiste and Minister for Finance the measures being considered by his Department to ensure that flood insurance cover is made more accessible to households at risk of flooding, or those that have previously been flooded; the further engagement his Department has had with insurance providers in this regard; and if he will make a statement on the matter. [10351/26]

Sentiment score: 0.19

I thank the Minister of State for his response. I know he is acutely aware of the impact of damage caused by flooding and the lack of insurance cover thereafter. My constituency of Cork East, particularly Castlemartyr, Killeagh, Mogeely, Midleton, Rathcormac and Whitegate, suffered extensive flood damage caused by Storm Babet in October 2023. Flood relief schemes and protection measures are progressing but they remain years away from completion. An individual property protection scheme to provide flood protection barriers has also been established but again the roll-out has been slow. Insurance payouts appear to be minimal in the aftermath of storms. I know of one man whose entire fleet of cars was destroyed but he was only paid roughly 10% of the value of his policy, leaving him with only the legal route to pursue his losses. Others will not be insured again having received a payout. These are real people with real stories. In the absence of flood schemes insurance protection gaps in flood prone areas have developed. I ask the Minister of State to do all he can to ensure constant engagement with the insurance industry and relevant stakeholders. I would also like to be associated with the Minister of State's words of praise for all of the emergency services.

Sentiment score: 0.02

I thank the Minister of State for his positive response. As a result of a lack of flood insurance, residents are fearful of further damage to their homes or businesses whenever bad weather is forecast. Has the possibility of a flood insurance cover scheme to underwrite flood risk been explored? Similar reassurance schemes exist in other jurisdictions such as Flood Re in the UK. Is the Minister of State of the opinion that such a scheme could be implemented here? My home town of Fermoy has had flood protection, thank God, since 2012, which is working very successfully. However there are some commercial businesses that still cannot get insurance, even though the town is flood protected. Again, I thank the Minister of State for his response.

Sentiment score: 0.19