Stephen Haddrill, the Director General of the Association of British Insurers (ABI), reproached the UK Government for its failure to do more to protect the country from increased exposures to floods.
Responding to the Government’s Comprehensive Spending Review (CSR) on flood defense spending, Haddrill stated: “The insurance industry is helping tens of thousands of people affected by flooding this summer, but the Government has now failed to play its part. Millions of homeowners and businesses around the country have been let down by the Government’s failure to commit sufficient money to new and improved flood defenses.”
He pointed out that the Government’s spending proposals over the “next three years is less than we were asking for, even before the floods.” Haddrill indicated that the amounts do “not begin to address the major issues, including drainage, which were highlighted this summer.” He added that spending would have to be substantially increased, “as needs are identified by the Pitt review team.”
The ABI accused the Government of a complete failure “to grasp the importance of improving Britain’s flood defenses in the wake of the devastating floods across the UK.” The organization also indicated that the insurance industry would be “conducting an in-depth review of this summer’s floods. This will form part of the forthcoming review of the ABI Statement of Principles on the Provision of Flood Insurance.”
Source: ABI – www.abi.org.uk
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