Coveney: Government to have 'robust dialogue' with insurance industry over flood cover

Simon Coveney said the State needs to move ahead with a planning application for a flood protection project for Midleton in early 2024. Picture: Dan Linehan

The Government is to have a “robust dialogue” with the insurance industry about providing cover to businesses as the sector cannot opt out of discussions surrounding flood protection, Trade Minister Simon Coveney has said.

Mr Coveney said he does not foresee a scenario where the Government underwrites insurance costs for businesses that cannot get cover. He said the Government should focus on putting in flood defence systems and accelerate the delivery of the schemes.

He said the State needs to move ahead with the planning application for a flood protection project for Midleton in East Cork in early 2024.

“There'll be lots of other parts of the country as well that are certainly seen as a flood risk following the very heavy rain we've seen over the last month or so," he said.

“The OPW needs to be given the financial resources to be able to respond to that quickly or as quickly as we can and this happens over a number of years.” 

He said the Government needs to insist to the insurance industry that when the State puts in flood protections, the industry responds accordingly and offers affordable rates.

I think it's important that we have an ongoing dialogue with the insurance industry, because we can't have a situation where the insurance industry simply opt out of this discussion around flood protection.

“We also can't encourage people not to seek flood insurance either because they think that the Government will just pick up the tab. I think that would create huge problems in the future and will be enormously expensive for Government,” Mr Coveney told the Irish Examiner.

Trade Minister Simon Coveney said the Government needs to insist to the insurance industry that when the State puts in flood protections, the industry offers affordable rates.Picture: Brian Lawless

He also said there needs to be a major focus on “climate adaptation” in Ireland and a lot of focus on climate mitigation, which is to reduce emissions.

While Ireland achieves its targets in the years ahead and reduces emissions, as we must, by 51% by 2030 and look to be at net zero by 2050, the reality is that much of the rest of the world isn't going to be meeting targets and therefore climate change is a new reality, that's already happening.

Meanwhile the clean-up in Co Louth was continuing last night after severe flooding across parts of the north of the country.

Tánaiste Micheál Martin said support for homeowners had already been extended to those living in the Cooley peninsula and other parts of Co Louth.

Mr Martin said providing supports for householders there does not require Cabinet approval but he added that the business support would require ministers' sign-off.

"That will be decided [at an] incorporeal meeting... hopefully this week," he told RTÉ's News at One  programme.

A pedestrian shelters from the rain while crossing Trinity Bridge in Cork city at high tide yesterday.

Storm Ciarán was expected to pass the southern part of Ireland last night without significant impact with between 10mm and 15mm of rainwater expected to fall.

A virtual meeting with the National Emergency Co-ordination Group and local authorities took place following the recent flooding caused by Storm Babet.

Cork City Council said it did not predict widespread flooding across the city, or tidal flooding in the city centre.

Cork County Council said the unsettled weather continues to have an impact on waterlogged soil and river levels across the county.

Crews were on standby, however, and were clearing inlets and gullies, and had sandbags and pumping arrangements in place in known problem locations.