Flood Risk Insurance Cover Under Threat?
Association of British Insurers concerned over flood defences spending
23rd June 2004
Insurance cover for homes at risk of flooding could be under threat, after the insurance industry expressed fears that the government may be about to 'backslide' on their commitments to improve national flood defences.
The unprecedented flooding of 2000 led some in the industry to question whether around 1.8m homes should still be offered cover, but after the government pledged to increase spending on lessening the impact of floods, insurers promised to continue providing cover.
The insurance industry says that their promise may have to be broken if the government does not honour its pledge, leading to high premiums or even no cover offered for homes at risk.
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