ABI: Flood insurance at risk if Environmental Agency concerns are ignored says ABI
New property developments that go ahead despite Environment Agency concerns about flood risk will be harder and more expensive to insure against flooding warns the ABI (Association of British Insurers).
Responding to today’s publication of the Environment Agency’s annual Development and Flood Risk report, Nick Starling, the ABI’s Director of General Insurance and Health, said:
“Despite tougher planning controls, it is worrying that during 2007 and 2008 16 developments – which included 240 homes – were given planning permission despite the Environment Agency advising against them because of the flood risk. This highlights the importance of developers and planners following the ABI’s recently published guidance on insurance for new developments. Building on floodplains should be avoided, but if it has to take place then developers must ensure that properties incorporate measures to reduce and manage the flood risk. Without proper measures to reduce flood risk, these properties will be uninsurable, unsellable and uninhabitable.”
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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)
2. The ABI’s Climate Adaptation: Guidance on Insurance Issues for New Developments is available on the ABI web site, www.abi.org.uk.
3. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.
4. 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