ABI warns time is running out on flood insurance cover
The Association of British Insurers (ABI) has warned that the clock is ticking on the need to secure a long-term sustainable flood insurance market in the UK.
The trade body has estimated that, without a new approach, up to 200,000 property owners will struggle to get affordable flood insurance when the current flood insurance agreement with the government ends in June 2013.
James Dalton, head of property insurance at the ABI, said:
"Insurers, the government and groups like the National Flood Forum all want to see a sustainable, affordable long term market for flood insurance in the UK.
"But we are running out of time to ensure that people in high
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