ABI says current Flood Re financial management rules 'unworkable'
Trade body calls for issues to be fixed during consultation phase.
The Association of British Insurers (ABI) has deemed the current draft rules on the financial management of Flood Re as “unworkable if passed into law in the current state”.
The draft secondary legislation was published yesterday, a move the ABI said marked another step forward in developing Flood Re.
However, Huw Evans, director of policy and deputy director general at the ABI, said: “Despite the fact that in discussions we have made some progress, the current draft rules on the financial
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