The UK could probably make the necessary amendments to allow Manx residents access to a flood reinsurance scheme, but has other matters to deal with.

That was the stark reality laid bare by Treasury Minister Alfred Cannan in the House of Keys this week.

Mr Cannan had been asked by Garff MHK Daphne Caine what progress had been made to permit Manx residents to such the UK government’s Flood Re insurance scheme

Flood Re is a reinsurance company, which means it enables insurance companies to insure themselves against losses because of flooding.

Unlike other reinsurance companies it is a not-for-profit fund, owned by the insurance industry.

It has been designed to address a specific issue for a specific period.

Flood Re’s aim is to promote the availability and affordability of flood insurance to those who own and live in properties in flood risk areas.

Establishing it required government legislation and it is the first scheme of its kind anywhere in the world.

Several of Mrs Caine’s Laxey constituents were flooded out in October last year when the village’s river burst its bank and damaged properties in Glen Road.

Since then, Mr Cannan said the government has held discussions with the UK’s Department for Environment, Food and Rural Affairs to ’start to understand if it is indeed possible for Isle of Man households to be included in the Flood Re reinsurance scheme.

He added: ’From these initial discussions it is apparent that changes to the scope of Flood Re in the UK would require legislative changes in the UK and possibly on the Isle of Man as well.

’To pursue this matter further I have now written to the Secretary of State for DEFRA to request his department’s assistance with this matter.

’I will provide a further update in due course.’

Mrs Caine told Mr Cannan that while the government is talking, some of her constituents have been told by local insurance companies that they will not insure them against flooding.

She asked the Minister when residents would be able to access the UK’s scheme.

Mr Cannan admited: ’ I cannot guarantee that Isle of Man residents will end up have access to the Flood Re scheme as it currently stands.’

Mrs Caine pushed Mr Cannan further.

She asked if there is an interim plan for Manx residents or if such a scheme is even possible given that no definitive answer has been provided four months on from when she first raised the issue.

Mr Cannan said: ’I think the most obvious solution to this does in fact lie with these regulations.

’I think, were Whitehall so minded, one envisages that amendment to the regulations could probably be enacted at a fairly reasonable pace.

’But one also has to remember that whilst this is obviously an urgent matter for local residents, clearly the department in the UK has a number of significant and pressing issues on its plate at the moment as well.’