Flood insurance could become prohibitively expensive or even unavailable unless the government takes a long-term and co-ordinated approach to managing the increasing risk of floods, insurers will warn today. Financial Times, Daily Telegraph

In a submission to a review of the lessons learned from this summer’s floods, which inflicted £3bn of claims on insurers, the Association of British Insurers will say that the UK’s unique position of being able to provide flood insurance in the private market is under threat.

'The consequence of inadequate management of flood risk is that more homes and businesses will be insufficiently protected – especially from emerging risks such as poor drainage – making flood insurance harder to obtain and more expensive,' the ABI will say.