11th July 2008
Flood insurance 'will go on'
Most businesses and homeowners in the UK will continue to be eligible for flood insurance, after an agreement between the insurance industry and the Government.
In recent months, insurers have warned that they may have to reduce the availability of cover unless flood defences and planning are improved.
But in an agreement announced today, Defra and the Association of British Insurers (ABI) have confirmed that flood insurance will continue to be offered, in return for assurances that flood risk will be better managed.
"This agreement is good news for everyone at risk of flooding," said Stephen Hadrill, the ABI's director-general. "We are pleased that the Government recognises that a long-term investment strategy, adequately funded, is the best way to manage the growing flood threat."
"It will help ensure that the flood insurance protection, relied upon by millions of householders and businesses, remains widely available."
In recent months, insurers have warned that they may have to reduce the availability of cover unless flood defences and planning are improved.
But in an agreement announced today, Defra and the Association of British Insurers (ABI) have confirmed that flood insurance will continue to be offered, in return for assurances that flood risk will be better managed.
"This agreement is good news for everyone at risk of flooding," said Stephen Hadrill, the ABI's director-general. "We are pleased that the Government recognises that a long-term investment strategy, adequately funded, is the best way to manage the growing flood threat."
"It will help ensure that the flood insurance protection, relied upon by millions of householders and businesses, remains widely available."
Tags: Insurance
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