Home Insurance
Government flood strategy 'boosts home insurance'
18.07.2008
Home insurance with flood coverage will remain widely available due to a long-term government flood strategy with improved levels of investment, according to new research.
The survey commissioned by the Association of British Insurers (ABI) found nine out of ten people think new homes should not be built in areas at risk of flooding unless adequate defences are constructed.
Eight out of ten people said they believe the flood risk is getting worse.
Nick Starling, the ABI's director of general insurance and health, commented that the floods experienced in the UK last summer brought home the need for an urgent overhaul in the management of flood risks.
He said insurers handled more than 180,000 claims during the period with a total value of £3 billion.
Earlier this month, the ABI reassured homeowners that flood cover will continue to be provided under certain home insurance policies where the annual flood risk is no worse than one in 75.
The survey commissioned by the Association of British Insurers (ABI) found nine out of ten people think new homes should not be built in areas at risk of flooding unless adequate defences are constructed.
Eight out of ten people said they believe the flood risk is getting worse.
Nick Starling, the ABI's director of general insurance and health, commented that the floods experienced in the UK last summer brought home the need for an urgent overhaul in the management of flood risks.
He said insurers handled more than 180,000 claims during the period with a total value of £3 billion.
Earlier this month, the ABI reassured homeowners that flood cover will continue to be provided under certain home insurance policies where the annual flood risk is no worse than one in 75.