The government is set to announced today a £500,000 funding package to help make flood vulnerable homes more resilient against flooding...
The government is set to announced today a £500,000 funding package to help make flood vulnerable homes more resilient against flooding.
The ABI welcomed the move but said investment in flood defences needed to increase.
Jane Milne, the ABI’s Head of Property Insurance, said: "Flooding has always been a significant risk in the UK, but climate change will make it much worse in the next forty years. Insurers support this initiative to reduce the misery and cost of flooding where conventional approaches are not feasible.
"Important as flood resilience measures are, over the long term we need a sustained investment programme in flood defences. Spending on flood defences needs to rise to £750 million a year by 2011.This greater investment will enable flood insurance to remain widely available."
