It's estimated the recent flooding and storms will cost the Manx government in the region of £300,000.
That initial assessment does not include potential cost to local authorities, the business community and private householders.
Chief Minister Allan Bell says talks will continue between central and local government officials.
IOM aware of 'a small number' of visa holders being stopped at the UK border
Resident left feeling “absolutely awful and humiliated”
Demolition of former Castletown Golf Links Hotel to start
It's been closed since 2007
Douglas Council announces 'moderate' rates increase with investment in facilities
Leader Devon Watson says new schemes will be trialled over the coming year
Green Lounge gets approval
Consumption passes open today
