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Flood risk homes can still get insurance
11 July 2008
Homeowners can still get insurance even if their property is at risk from flooding after a deal between the government and the Association of British Insurers (ABI), it has been reported.
Flood insurance will be made widely available to homes and small businesses despite £3 billion being paid out to 180,000 claimants last summer because of the severe flooding, according to ABI.
Floods minister, Phil Woolas, said: "The devastation caused by last year's unprecedented rainfall has shown just how vital it is for people to be able to insure their homes and livelihoods against the risk of flooding."
As part of the deal the government will invest in flood prevention and ensure that new homes are not built on flood plains.
Stephen Haddrill, the ABI's director general, said: "This agreement is good news for everyone at risk of flooding."
According to ABI, the vast majority of the 17,000 people for whom insurers arranged temporary accommodation have now returned to their original homes.
