Flood strategy agreement reached

Story link: Flood strategy agreement reached

The ABI and Defra have both reached an agreement on planning strategy for flood prevention:

Insurance Daily: ABI and Defra agree long-term flood strategy

The Association of British Insurers (ABI) has reached an agreement with the Department for Environment, Food and Rural Affairs over a long-term flood plan.

Both organisations have made a commitment to improve understanding of flood risk, while the Government implements a strategy for flood prevention and future policy and funding.

This has to be a good thing, because without this agreement, the ABI was basically supporting the withdrawal from properties at risk from flooding.

Instead. the ABI will even support insurance provision for homes which remains at a high risk of flooding, so long the as the government puts in place flood prevention measures within a 5 year period for that area.

Interesting, but let’s see what happens if this is tested, and thus tests the relationship between the insurers and the government.