The Coalition Government is facing calls from AXA to clarify its plans regarding the UK’s flood defence strategy, particularly with regard to funding.
The Comprehensive Spending Review (CSR) is approaching, and question marks remain over the money necessary to enact the Flood and Water Management Act, which became law shortly prior to the General Election.
Managing Director of Claims David Williams has stated that it is essential that early action and a long term approach are adopted to help protect the country against future flooding.
Today, AXA makes a presentation to the Conservative Party Conference during which it will argue that offering affordable coverage to those who live on flood plains may become impossible, after the Statement of Principles ends in 2013, without funding for flood defences.
The UK’s insurers, unlike many in Europe, have agreed with the ABI to offer flood insurance as standard with most policies.
In July, the ABI’s Director of General Insurance Nick Starling urged the Government to make flood defence spending a priority, despite the public spending squeeze.