The Forty Foot swimming spot in Sandycove is at risk of falling into ruin after public liability insurance cover for the local swimming group was withdrawn.
For years the Sandycove Bathers Association has maintained the popular amenity made famous by Buck Mulligan in James Joyce's Ulysses.
But it may now have to hand that responsibility back to Dun Laoghaire-Rathdown County Council if it cannot get insurance.
The club has a lease and licence from the local authority to operate the club and keep the area in good condition.
Association president Fred Espey, said they have volunteers and experts available to repair storm damage quickly and keep the area safe.
"But if we can't get insurance we may have to give up carrying out the repairs and leave it to the council," he said.
"Repairs could take a lot longer in the future because local authorities have to agree budgets and allocation of monies before projects can be undertaken."
Association members will vote at an extraordinary general meeting on Thursday on the club's future commitments.
It has proposed that it should no longer manage or repair the Forty Foot, a role it has carried out since the late 1880s.