Insurance Coverage
Dail Éireann — 2026-02-10
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Robert Troy (FF), Longford-Westmeath

EU legislation, the Solvency II directive, states that neither the Central Bank nor the Minister for Finance can compel insurance companies to provide insurance cover. The last action plan on insurance reform delivered but gaps remain, and we acknowledge that. That is why we published a new action plan on insurance last summer. We acknowledge that State intervention is needed. That is why there are four actions in the action plan targeting this area. One of those actions, a priority action, is to develop a long-term strategic approach to the provision of flood insurance. That will bring together the Central Bank, the insurance industry, the Department of Finance and the OPW. The insurance industry has already established a flooding task force and we expect proposals in the next month, which will feed into our Department’s stakeholder forum, which will also take place next month. The forum will bring together the Central Bank, insurance industry, Department of Finance and OPW to bring about a proposal to address this gap in the market.

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Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted.

Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-02-10/debate/main
Retrieved: 2026-08-14T04:54:36+00:00
Sitting date: 2026-02-10