Calls for new flood insurance deal with government
Tens of thousands of people who were flooded in 2007 may find it impossible to get cover for their homes and businesses unless the government and insurers reach a new agreement.
Campaigners say the government needs to act quickly as guarantees on vulnerable homes are due to end in June 2013.
But despite investment in flood defences, improved drainage and better resilience, campaigners say insurance premiums and excesses have gone up.
They fear that unless a new deal is reached, their homes and businesses will become impossible to insure and sell.
Nick Starling, from the Association of British Insurers said there needed to be government intervention as "the insurance industry simply can't sustain these very high risk properties in a free market".
28 Dec 2011
- From the section UK