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.
£150,000 spent supporting Ukrainians
273 approvals were issued for people fleeing war
Fire crews respond to structure fire in Braddan
Residents advised to test smoke and fire detections systems regularly
MGP newcomer reflects on performance
Illiam Quayle says he achieved all his goals
Manx Care offering RSV vaccine
Eligible people will be invited for their appointment