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.
CAMHS waiting list has halved in 12 months
It follows a £4 million injection into the service last year
Meat plant operators say progress being made under new leadership
Business now on much firmer ground
Five motorists caught using their mobile phone on the same road
Warning from police as drivers issued points and fines
Vacant seat at Onchan Commissioners filled
No by-election as Andrew John Gibson stood uncontested