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Failure to reach flood insurance deal


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Failure to reach flood insurance deal is 'playing with people's lives'

 

Government accused of game of bluff with insurers as thousands of flood-risk properties could soon lose cover

 

 

The chairman of a national charity that helps householders affected by floods has accused the government of "playing with people's lives" as it looks increasingly likely that thousands of homes will be without affordable insurance from July.

 

Last week environment Secretary Owen Paterson admitted he was disappointed at failing to secure a new agreement over the insurance of homes and businesses at high risk of flooding.

 

The government has been locked in talks with the insurance industry for months over the future of flood cover as the existing agreement – the Statement of Principles – runs out in June 2013. This agreement between the government and the industry obliges insurers to offer flood insurance as part of standard policies at reasonable rates, providing the government invests in flood defences.

 

The two sides are trying to thrash out a new arrangement, but talks seem to have stalled. In the latest twist to the tale, Paterson raised hopes last week when he was also reported to have said that the Statement of Principles would "almost certainly" be extended beyond June.

 

However, the Association of British Insurers denies this, even though the Department for Environment, Food and Rural Affairs confirmed to The Observer that "a temporary extension is one of the things that is being looked at".

 

http://www.guardian.co.uk/money/2013/mar/31/failure-flood-insurance-deal

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