Welcome for new legislation to address flooding
Personal insurance
20th November 2009
A new piece of legislation announced as part of the Queen's Speech on November 18th has been welcomed by the insurance industry.
Expert Maggie Craig claimed that the Flood and Water Management Bill is needed to protect the five million UK properties currently under threat and said that "its progress into law should be a priority".
The acting director-general of the Association of British Insurers (ABI) declared that it "should represent an overhaul in flood management" and is a response to campaigning by the industry.
In her response to the Queen's Speech on November 18th, she also expressed concern about plans to strengthen the powers of the Financial Services Authority "being rushed through without proper consultation with industry" and welcomed moves to improve financial education in the UK.
ABI spokesman Malcolm Tarling recently stated that damage caused by flooding has played a central role in buildings and contents cover since the early 1960s, something that may interest those seeking a UK insurance policy.
For more information on how Giles can help you with your personal insurance needs, Click here.
