JLT warns of "economic chaos" after flood insurance impasse
JLT has warned that the current flood insurance deadlock could soon harm commercial insurance.
The Association of British Insurers (ABI) has claimed that government talks over securing long-term flood insurance for high-risk households have reached an impasse.
Although the Statement of Principles only relates to residential and SME business, JLT fears a change in underwriting policy would also be reflected on the commercial side.
Bill Gloyn, partner European Real Estate, JLT, said: "The inability to get cover will then have repercussions for the local economies of affected areas, where
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