Is flood risk getting worse?

June, 19, 2008

Half a million homes currently at risk of flooding could become uninsurable, according to the Association of British Insurers (ABI).

The body suggests that this could be the case unless the government takes action to sufficiently protect them from flood damage.

In news that may interest those looking to compare popular mortgages, research by the ABI indicates that eight out of ten people who live in regions badly flooded in 2007's floods think that danger of such water damage is increasing.

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"Planning for the future is essential if we are to minimise a repeat of last year's terrible floods and to ensure that flood insurance protection remains widely available," comments Nick Starling, ABI director of general insurance and health.

In response to the association's calls, financial services provider Defaqto asserts that all parties involved in the housing market need to agree on a common way forward as soon as possible.

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