Financial news categories
Financial news archive
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
Flooding a serious issue for the government, according to Biba
26 June 2008
Insurers will continue to protect houses from flooding but only if the government acts to prevent floods, claims the British Insurance Brokers' Association (Biba).
Government action needs to be taken as after last year's nationwide floods insurers handled 180,000 claims from people affected by the disaster, according to the Association of British Insurers (ABI).
Graeme Trudgill, technical and corporate affairs executive, said: "We paid out three billion pounds last year on the floods – that's four years worth of flood claims in one year."
Flood defences need to be constructed and new homes should not be built on flood plains if the government wants to avoid widespread catastrophe.
"They need to have the right defences and properties need to be built appropriately so that if they are flooded they can recover quickly. That is something that is really important that needs to be done for the future."
According to ABI, the vast majority of the 17,000 people for whom insurers arranged temporary accommodation have not returned to their homes.
