Flooding protection welcomed by insurers

Posted : 24-03-2005

Homeowners living in areas with a high risk of flooding could be able to purchase cheaper policies as a result of a new government pilot scheme.

Residents in high risk areas can find it both difficult and expensive to purchase home insurance, yet the government is seeking to redress the problem, a move welcomed by insurers.

Areas lacking flood defences could receive grants with which to conduct home improvements to protect their property against the risk of flooding, environment minister Elliot Morley announced.

"We are doing a feasibility scheme to give financial assistance to householders where we could not put a flood scheme, either because it is technically impossible or too expensive to do," he said.

This announcement was welcomed by Alan Gairns, development manager for household at More Than Insurance, who stated: "This is good news for homeowners and insurers alike.

"We are also pleased that the government has announced pilot schemes to tackle urban flooding and to determine how flood resilience may be incorporated into new and existing buildings."

The most accurate flood map of London ever produced was published today and could impact upon the price of premiums for some households.

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