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Insurers continue to offer householders access to flood insurance

ABI members have today confirmed to the Government that they will continue to voluntarily meet their commitments to offering flood insurance for an extra month after the current industry flood insurance agreement expires on 30 June, while discussions with the Government on the future of flood insurance continue.

Otto Thoresen, Director General, Association of British Insurers, said:

The Government and the ABI continue in constructive discussions on the future of flood insurance, specifically on how the components of the ABI’s Flood Re proposal can be designed to best meet the objectives of the Government, the insurance industry and, most importantly, the needs of those at risk of flooding.

There are still important issues to resolve and no deal has been reached, but negotiations are advanced and we will bring negotiations to a conclusion as soon as practicable. After the Statement of Principles expires on 30th June, ABI members have agreed that they will continue to meet their commitments voluntarily for one additional month until July 31st, to ensure that their customers across the UK can continue to access insurance while discussions are concluded.

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Last updated 01/07/2016