Uninsured damage – flood risk

The risk of domestic and small business properties suffering uninsured damage as a result of floods has receded considerably following a joint announcement (11th July) by the Government and the Association of British Insurers on a long-term investment strategy to deal with flood prevention, a reassessment of how the planning system prevents inappropriate development in flood-risk areas, and a commitment to the wider availablity of flood risk insurance. See ABI/Government statement; and see also the publication of a revision of the ABI statement of principles on flood insurance (applicable in England) at Revised ABI principles.