Insurance companies 'can assist with addressing flood risk'
Personal insurance
6th July 2010
As the impact of climate change is increasingly felt in the UK, insurers can assist customers in addressing it.
This is the opinion expressed by a representative of the Environment Agency, who declared that firms can help by encouraging businesses and households to take measures that will reduce risks in the future when damage is repaired.
"A lot of insurance companies replace like for like and actually that's a bit of a missed opportunity," he declared, pointing out that simple measures such as moving plug sockets further up walls to guard against flood damage can ensure that things get "back to normal" faster in the wake of an incident.
The spokesman added that population growth, coastal erosion and climate change over the coming 25 years are likely to affect people more often in the future.
Those seeking a UK insurance policy may also be interested to learn that a record £629 million is being spent by the Environment Agency during 2010-11 on risk management programmes.
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