Almost two million UK properties at risk from flooding | Europe | News

Almost two million UK properties at risk from flooding | Europe | News

Some 1.7 million homes and 130,000 commercial properties worth more than £200 billion, are at risk from river or coastal flooding in England, it is claimed.
More properties are also at risk from flash floods and many properties could become uninsurable and unmortgageable as early as June 2013, when the current insurance industry’s agreement to provide affordable insurance expires.
Insurers, the government and groups like the National Flood Forum all want to see a sustainable, affordable long term market for flood insurance in the UK.
But according to the Association of British Insurers, time is running out to ensure that people in high flood risk areas can continue to get affordable flood insurance when the Statement of Principles expires in June 2013.
It is widely recognised that the current industry agreement with the government is unsustainable, has thwarted choice for consumers, and is well past its best by date.
Insurers are determined to do everything possible to ensure that flood insurance remains as widely available to flood vulnerable communities. But this cannot be achieved without government help, as happens in other countries.
Flood defence protection is a priority for all residents living near to waterways, lakes and rivers. Many landlords with properties in flood prone areas now have the added worry that their properties may be difficult or even impossible to insure later this year.