Opinion Former Article

ABI: The ABI blueprint to safeguard flood insurance

The ABI has published its blueprint to ensure that flood insurance remains widely available to the more than 2 million homeowners and businesses known to be at risk of flooding.

Launching the ABI's proposals, Stephen Haddrill, the ABI's Director General, said:

"Last week's draft Flood and Water Management Bill is a vital first step towards implementing the recommendations of the Pitt Review to make homeowners in England and Wales safer from flooding.

"We need a rapid political consensus to deliver reform. We urge all parties to work together, to ensure that this Bill delivers better flood protection to the millions of homeowners and businesses at risk of flooding in England and Wales. And we await publication of a long-term funding strategy, which is essential in ensuring that flood insurance remains widely available."

The ABI wants to see the Flood and Water Management Bill:

- Create strong national leadership on flood management, with targets to reduce flood risk. The Environment Agency should have a statutory duty to reduce flood risk.
- Establish new powers and responsibilities to tackle surface water flooding. Local authorities need to be legally responsible for assessing and reducing surface water flooding, and produce surface water management plans.
- Promote community action to reduce flood risk. This should include requiring the Environment Agency and local authorities working on solutions, such as flood resistant and resilient measures, to help any homes and businesses that it is not practical to defend from flooding.
- Modernise the approach to flood risk management, for example by developing a more risk-based approach to regulating reservoirs

- ENDS -

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. A copy of 'ABI Proposals for the Flood and Water Management Bill ' is on:

" target="_blank">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.

5. More news and information from the ABI is available on our web site, www.abi.org.uk.

More Articles by Association of British Insurers (ABI) ...

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