A fresh agreement that the insurance industry will continue to provide cover to homeowners and businesses at risk of flooding is by no means guaranteed, insurers have warned. Finncial Times (Monday)
Discussions have begun between the government and insurers over the so-called statement of principles, whereby the industry agrees to cover existing customers at risk of flooding – both homeowners and small businesses – provided the government continues to invest adequate amounts in flood defences.
Nick Starling, director of general insurance and health at the Association of British Insurers, said a renewal of the agreement was 'not by any means a done deal'.
