ABI: Floods agreement addresses public concerns

ABI: Floods agreement addresses public concerns

ABI: Floods agreement addresses public concerns

One year since the floods that devastated much of Gloucestershire and the Midlands, a new floods agreement between the ABI (Association of British Insurers) and the Government will ensure that flood insurance remains widely available in the region says the ABI.

The package of measures agreed includes a Government commitment to deliver a long-term floods strategy and tighter controls on new developments.

The agreement comes as an ABI-commissioned survey among last summer’s flood victims in the region shows that:
. Eight out of ten think the flood risk is getting worse.
. Three-quarters think not enough is being done to tackle the flood threat.
. Nine out of ten people say that new homes should not be built in flood risk areas unless there are adequate flood defences.

Nick Starling, the ABI’s Director of General Insurance and Health, said:

“Last summer’s floods highlighted the urgent need for an overhaul in managing the flood risk. Insurers dealt with over 180,000 claims, and paid out £3 billion. The Government is now committed to a long-term flood strategy that will lead to a better understanding of the flood risk, with investment to manage it effectively. This will ensure that flood insurance, relied upon by thousands of homeowners and businesses in the region, remains widely available.”

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Notes for Editors

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

The survey was carried out by Populus on behalf of the ABI, among a random sample of 1,000 adults badly affected by the 2007 summer floods.

2. The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.

3. An ISDN line is available for broadcasts.

Copies of all ABI news releases, together with other information from the Association, can be seen on our website http://www.abi.org.uk