This consultation is seeking views on the government?s preferred approach to address the future availability and affordability of flood insurance.
The government?s preference is to work with the insurance industry to secure the affordability and availability of flood insurance. ?An initial agreement has been reached on a way forward which would enable people living in the most flood-prone areas to get affordable flood insurance. ?This would replace the current voluntary agreement (the Statement of Principles).
Government will also seek powers in reserve to regulate for affordable cover. ?Having a fallback means customers can have confidence in this issue being addressed one way or another.
The government is seeking powers in the Water Bill to implement these proposals.
The consultation closes on 8 August 2013. You can find out more about the consultation and how to respond by using the link below.
Consultation ? Insurance in areas of flood risk?
Source: http://communitylincs.com/insurance-in-areas-of-flood-risk/
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