Govt urged to provide flood defence funding
05 August 2010 11:22:38
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| Govt must provide funding for flood defences. |
Nick Starling, director of general insurance and health at the Association of British Insurers, called for a long-term strategy to deal with the nation's rising flood risk, which is inherently linked to climate change.
Speaking at the Local Government Flood Forum, Mr Starling insisted that flood defences should be regarded as a priority and that cutting back on investment would be a "false economy".
"Damage done to schools and hospitals, not to mention homes and businesses, can cost billions to repair," he pointed out. "For every £1 spent on protecting communities from the devastating impact of floods, £8 is saved to the economy."
Mr Starling added that insurers can only provide competitively priced home insurance if the government delivers a flood management strategy and "the right level of investment".
Consumer watchdog Which? recently warned that thousands of homeowners are caught in a 'catch-22' situation with regard to home insurance.
This is because disclosing their area's flood risk could make it hard for them to obtain insurance, while failure to disclose the information could invalidate their policy.
Which? editor Martyn Hocking advised householders to compare home insurance policies particularly carefully if they live in a flood-risk area.
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Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
