Hope for property as flood insurance talks resume

Latest News Tue, Mar 22, 2016 5:07 PM

Hope for property as flood insurance talks resume

The property industry has reminded the Government that property without insurance is essentially worthless, as talks to ensure universal flood cover resumed after a month-long impasse.

Reports over the weekend indicate that Cabinet Office Minister, Oliver Letwin, and the Association of British Insurers (ABI) resumed talks to find a replacement to the Statement of Principles, which expires next June.

Since 2000 the Statement of Principles ensures every property in the country can access insurance in exchange for state investment in flood defences.

Liz Peace, chief executive of the British Property Federation, said: “It would be unforgivable for this situation not to be resolved as a matter of urgency. Universal flood cover shouldn't be allowed to slip through our fingers.

“Householders and businesses have been living with this uncertainty for far too long, and this has already driven up insurance premiums. The fact also remains, we still don’t know whether hundreds of thousands of homes and businesses will be able to access flood cover from June next year.

“It shouldn’t be forgotten that flood insurance is absolutely vital to property lending. Without it the property market in certain parts of the country is completely undermined.”

Featured News

Specification news
Ravago Building Solutions UK reveals new research on...

Ravago Building Solutions, the UK’s original manufacturer of extruded polystyrene...

Read More >>

Specification news
Designing Wet Rooms in Modern Construction: Key...

Wet rooms have become a standout feature of new-build residential and mixed-use...

Read More >>

BUILDING PRODUCT LIBRARY - LATEST BROCHURES

2026 Product Brochure Brochure

2026 Product Brochur...
By ​The Radiator Compan...

Download Now >>

System for Laying Floor and Wall Coverings Brochure

System for Laying Fl...
By FassaFloor

Download Now >>

Training for Excellence Brochure

Training for Excelle...
By Aico

Download Now >>

The Connected Home Solution Brochure

The Connected Home S...
By Aico

Download Now >>

Safety First, Aico First Brochure

Safety First, Aico F...
By Aico

Download Now >>

BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS

Glass Partition Walls
Glass Partition Walls

Partition wall systems made of glass allow transparent room partition. They open, divide and...

Read More >>

FASSAFILL MEDIUM
FASSAFILL MEDIUM

Water repellent cement-based sealant for grouting joints from 2 to 12 mm, resistant to mould and...

Read More >>

FASSA AQUAZIP FAST
FASSA AQUAZIP FAST

Two-component elastic cement membrane, quick drying even at low temperatures, for waterproofing and...

Read More >>

CONSTRUCTION VIDEOS - LATEST VIDEOS

DAB EsyBox Pop | Compact booster pump for perfect home water pressure
DAB EsyBox Pop | Compact booster pump for perfect home water pressure

Struggling with weak showers and inconsistent flow? The DAB EsyBox Pop is the revolutionary,...

Watch Now >>

Marsh Industries - Phos-Lite
Marsh Industries - Phos-Lite

Marsh Industries - Phos-Lite

Watch Now >>

Marsh Industries - Nutra-Lite
Marsh Industries - Nutra-Lite

Marsh Industries - Nutra-Lite

Watch Now >>