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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.

Last updated 01/07/2016