Insurers could cut flood cover warns Aon
Insurers could remove flood cover in more areas of the UK if the government does not start investing in adequate flood defences rapidly, Aon has warned.
The broker has advised property owners that they could become more exposed to recovery costs as high risk, uninsurable regions become more widespread following an inevitable reassessment by insurers of their role in dealing with flood claims.
The warning comes as the Association of British Insurers expects to pay £3 billion for flood claims from the latest series of disasters, while the government has only committed to spending £800 million on long term protection.
Bill Gloyn, chairman of
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