ABI warns Brussels to back off from UK flood schemes

The ABI has told Brussels not to interfere with UK arrangements for insuring natural catastrophes, following the announcement of a European Commission probe.

Michel Barnier, European commissioner for internal markets and services, said the Commisson would carry out an investigation of insurance schemes covering natural catastrophes. The UK is one of the few EU markets to include flood cover in home insurance as standard following an agreement between industry and government.

An ABI official said: “We will work to ensure remedies to fix problems elsewhere do not harm the UK.”