The Irish Insurance Federation has called on the government to establish a National Flood Defence Agency to coordinate prevention and crisis control measures to deal with flooding.
The Federation's spokesman, Michael Horan, said the overnight flooding was the third severe weather event this year, and that such events seemed to be happening more frequently.
The Federation has sought a meeting with Minister of State at the Office of Public Works, Tom Parlon, to discuss the problem. Currently a number of agencies - including the OPW and Waterways Ireland - are charged with flood management.
The IIF's Martin Long says an increased number of weather related claims in recent years highlights the need for a new agency.
This year began with a bad freeze, resulting in burst pipes, claims from which cost the industry €30m. Feburary's floods led to €37m worth of claims.
Michael Horan said it was too early to say if premiums would have to rise because of the latest crisis.
However, it is understood that the industry had an operating loss of over €8m last year, and that was before 67 million of unexpected weather related claims for this year.
When they're calculating the premium to charge consumers, insurance companies automatically factor in a certain number of natural disasters.
