The ABI is set to announce that people in flood-prone areas may be unable to insure their homes next year.
The association will announce later today that it is unlikely to continue covering policy ...
The ABI is set to announce that people in flood-prone areas may be unable to insure their homes next year.
The association will announce later today that it is unlikely to continue covering policyholder's in flood-prone areas from 2003.
It is expected to blame the expiration of the insurance industry's flood deal with the government at the end of the year.
Under the deal the government agreed to spend more on flood protection, which has enabled insurers to extend policies.
Insurers paid out more than £1bn after floods in autumn 2000.
On Monday the Halifax announced it would continue to offer flood cover to Halifax, Bank of Scotland and Intelligent Finance mortgage customers until 2005.
