Home Insurance
Home Insurance
ABI makes renewed pledge on flood insurance
Mon, 14 Nov 2005
The Association of British Insurers (ABI) has renewed its commitment to providing home insurance for houses at risk of flooding.
Home owners finding themselves the victims of flooding will be covered provided the flood risk is adequately managed, the ABI said.
Home insurance customers will also be covered in locations where flood defenses are due to be completed within the five year period succeeding the flood.
"This is good news for the millions of homeowners and businesses who rely on insurance for financial protection from the cost of flooding," said Stephen Haddrill, ABI's director general.
"The Government's commitment to effective management of flood risk is very welcome, and enables our members to continue flood cover for almost all households and businesses at risk of flooding."
Mr Haddrill also stressed however that predicted climate changes were expected to dramatically increase the risk of flooding for many households, and this being the case, continued improvements to flooding defenses was "vital".
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