Other insurers should follow AXA's lead and add their weight to the flood defence spending lobby
This week AXA went before MPs to puts it case for more public money and government action to address flooding issues.
AXA Insurance chief executive Peter Hubbard and claims director David Williams were looking to raise awareness of how SMEs had been affected by this year’s catastrophic flooding – a group which they said had been ignored in the recent debate.
The insurer was looking for action on four main areas, including environmental resilience, building regulations and planning.
Lobbying on flooding issues is, of course, an area that has been well-trodden by the ABI. The association has been at the forefront of this issue, putting the insurance industry’s case for greater public spending on flood defence issues and waving the statement of principles in the face of government ministers.
But the ABI does not have a monopoly on lobbying – nor should it.
AXA was keen to stress that it had it had consulted the ABI to ensure it was not stepping on the association’s toes. That is only courteous.
But it is important, and the ABI acknowledges this, that on matters of such pivotal importance as flood defence, the insurance industry should be making its case from all angles.
The insurance industry and its senior figures should be putting forward the arguments, rather than relying solely on a trade association.
The more politicians here the arguments the better, particularly if they come from a broad section of the insurance industry.
The ABI has an important role to play in lobbying, but industry leaders whose businesses and shareholders are directly affected by the issue will make persuasive advocates.
