According to a leading home insurance provider, an increasing number of Britons are presently facing risk from extreme weather conditions, a trend that has severe implications on the home insurance sector.

The firm has published this in response to the latest Flood and Water Management Bill from the government.

The home insurance firm has revealed that the publication of the legislation corresponds with the beginning of extensive flooding in Cumbria and many other parts of the UK. The bill includes new powers for the local authorities regarding the investments in flood defences.

A spokesperson and director of the leading home insurance firm revealed that no amount of the legislation can avoid unexpected flooding.

The firm also highlighted latest figures from the Association of British Insurers, which show that around 20% of the homeowners may avoid renewing their home insurance policy in order to cut down the cost in recessions.

Increasing flood risks for homeowners eventually lead to high costs for the insurance firms. This consecutively increases the customer’s insurance premium cost.