Home Insurance -
ABI calls for 25 year flood risk plan - 29/03/2008
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The Association of British Insurers (ABI) has published its report on the summer floods of 2007, in which it calls for the government to institute a 25 year plan to tackle flooding.
Last year’s floods left tens of thousands of people homeless and thousands of business devastated, this caused billions of pounds worth of claims to home insurance providers that have yet to fully recover.
The new report by the ABI suggest a single national body to plan and organize a strategy, and relays the information gleamed from interviews that fully two thirds of those affected by the floods expect it to happen again.
ABI director general, Stephen Haddrill, says: “This summer’s devastating floods highlight the urgent need for a long-term strategy based around more investment, national coordination and better land use planning.”
Adding: “Insurers want to continue to provide flood insurance. The right decisions from the government will ensure that flood insurance remains widely available and affordable in the UK.”
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