Axa UK chief warns of "unsellable" homes with flood deal almost up
Axa UK's group chief executive Paul Evans has warned that hundreds of thousands of homes will be "unsellable" unless an agreement is struck on the future of flood insurance.
Speaking to the Independent on Sunday Mr Evans explained that the insurer was "extremely concerned" about the impact on homeowners with the Statement of Principles set to expire on 30 June 2013.
He cautioned: "We are extremely concerned about the impact on homeowners.
"Homes would be unsellable. There would be the worst of both worlds: people would be trapped in homes that they couldn't afford to insure and wouldn't be able to sell."
And Paul Cobbing, chief executive at the National Flood Forum
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