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11/11/2005
Flood-risk homes to receive better insurance deal
Homeowners whose properties are at risk of flooding are to benefit from better deals on insurance, under new proposals announced by the Association of British Insurers.
The ABI announced that it would continue to provide flood insurance to existing customers in areas of significant risk, where there were plans to improve flood defences within five years.
This commitment had previously only applied until 2007.
The agreement is expected to benefit the owners of around 100,000 homes in flood risk areas, including Selby in North Yorkshire, Fordingbridge in Hampshire and West Bridgeford in Nottingham.
Stephen Haddrill, the ABI’s Director General, said: “The insurance industry is committed to ensuring that flood insurance remains available to existing customers where flood defences will be in place within five years.
“This is good news for the millions of homeowners and businesses who rely on insurance for financial protection from the cost of flooding.
“The government’s commitment to effective management of flood risk is very welcome and enables our members to continue flood cover for almost all households and businesses at risk of flooding.”
However, Mr Haddrill said that the ABI expected climate change to “dramatically increase” the risk of flooding and urged the government to make further progress in reducing the flood risk in vulnerable communities throughout the country. “Continued improvements on the ground are vital,” he said.
The ABI’s revised Statement of Principles comes into effect in January 2006.
(KMcA/GB)
The ABI announced that it would continue to provide flood insurance to existing customers in areas of significant risk, where there were plans to improve flood defences within five years.
This commitment had previously only applied until 2007.
The agreement is expected to benefit the owners of around 100,000 homes in flood risk areas, including Selby in North Yorkshire, Fordingbridge in Hampshire and West Bridgeford in Nottingham.
Stephen Haddrill, the ABI’s Director General, said: “The insurance industry is committed to ensuring that flood insurance remains available to existing customers where flood defences will be in place within five years.
“This is good news for the millions of homeowners and businesses who rely on insurance for financial protection from the cost of flooding.
“The government’s commitment to effective management of flood risk is very welcome and enables our members to continue flood cover for almost all households and businesses at risk of flooding.”
However, Mr Haddrill said that the ABI expected climate change to “dramatically increase” the risk of flooding and urged the government to make further progress in reducing the flood risk in vulnerable communities throughout the country. “Continued improvements on the ground are vital,” he said.
The ABI’s revised Statement of Principles comes into effect in January 2006.
(KMcA/GB)
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Homeowners Should Invest In Their Own Flood Defences
The government has said that households at risk of flooding should take on the responsibility of preventing future damage to their homes. This is despite the fact that such precautions may not reduce the cost of their home insurance or that they would even be able to buy flood cover.
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ABI report warns of flood risk for new homes
The Association of British Insurers (ABI) have warned that planned government housing in the South East could be at risk from flooding.
ABI report warns of flood risk for new homes
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Museum Remains Closed Following Flood
Alyth Museum in Perth & Kinross is to remain closed until further notice, the local authority has announced, after the venue was damaged by flash flooding last Friday, 17 July.
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