Manx homeowners face five-year wait for flood insurance

New defences in Laxey include flood walls, a debris catcher and a rock-ramp weir

Manx residents will have to wait until at least 2026 before they can access "essential" flood insurance, the Isle of Man Government has said.

Treasury said talks on extending a UK scheme to help homeowners to save on premiums "will take time to conclude".

Some Laxey residents said they were struggling to find affordable home insurance after a major flood in 2019.

Outgoing Chief Minister Howard Quayle said the government "recognises flood risk insurance is essential".

High premiums

A report into the Laxey floods by professional services firm Arup recommended the Treasury investigate accessing flood insurance via the UK's Flood-Re scheme.

Funded by the UK insurance industry through an annual levy, the scheme enables property owners in England, Wales, Scotland and Northern Ireland to access affordable insurance policies.

Reviewed every five years, the scheme was last looked at in 2019, and the Manx government will have to wait for the next review before the island can be included.

A Treasury spokesperson said: "If successful, the earliest date for extension of the scheme to the Isle of Man would be 2026/27, subject to changes in UK legislation."

A deluge in Laxey in 2019 saw more than 60 properties damaged

Mr Quayle said he was "pleased that work is being undertaken in this area in line with the Arup recommendations".

Garff MHK Daphne Caine said the date was "probably a year or two later than hoped", but welcomed it as a "good thing to have across the community, to reduce the anxiety people are living under".

Aside from pursuing the Flood Re scheme, the government has also built new flood defences in Laxey, which include a debris catcher, river walls and a rock-ramp weir.

"Existing insurers need to review this work," said Garff MHK Andrew Smith, who called on firms to "review the penalties imposed on residents who are still suffering high premiums and no flood cover".