Fitch predicts flood insurance pool
Fitch has stated that the most likely solution to providing insurance coverage in high-flood risk areas of the UK is the introduction of a non-profit risk pool.
The ratings agency added that the development was still "most likely" despite the government's recent refusal to provide a temporary overdraft facility to the industry's latest proposal.
However it noted that the challenges of designing and funding a special insurance pool that also covers the burdensome administrative costs leaves the availability of flood insurance highly uncertain.
The joint statement of principles between the government and insurance industry concerning the provision of
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