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.
More than 500 Isle of Man Energy customers overcharged for VAT
It's charged 2% of its domestic customers the standard rate instead of the reduced one
Police working with schools to teach children about the dangers of social media
It's after the popularity of the TV series 'Adolescence'
Drivers turning in Douglas Fire Station forecourt leads to 'near misses'
Fire service says staff have nearly been hit on a number of occasions
Isle of Man Government ‘closely monitoring’ impact of US trade tariffs
Government assessing risks as 10% levy on goods prompts concern
'Angel of Ronaldsway' could be installed at the Manx Aviation and Military Museum
Planning application also includes a display with the nose of a retired aircraft