ABI comment on Queens Speech

Director General at the Association of British Insurers, Huw Evans, said: “Having worked with the previous Government on delivering sweeping reforms to the pensions market and on practical measures to reduce car insurance premiums and tackle flood risk, the insurance industry looks forward to a constructive relationship with the new Parliament.

“Over the next five years we need to ensure cross-party support to create a long-term savings culture. It is vital we see promised investment in flood prevention delivered and built upon, while the planning system is strengthened to take proper account of flood risk. It’s also necessary to continue modernising the civil justice system to work more effectively for claimants so less money is swallowed up by the legal process.”

In response to pledges around house building, ABI Director General Huw Evans said: “It is important steps are taken to provide more affordable homes, which are badly needed by many people. However this needs to be achieved in a sustainable way, within a planning system which is robust about refusing inappropriate development in areas of flood risk and which pays proper attention to advice from the Environment Agency.

“Losing your home to flooding is devastating, and repairs costs on average more than £16,500. The threat from flooding remains the UK’s biggest natural risk and consideration of the future impact of climate change must be part of the decision-making process about new housing.”

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