ABI urges government to commit to flood defences
Commercial insurance
30th July 2010
The coalition government needs to do more to improve the UK's flood defences, it has been claimed.
A call has been issued to ministers by the Association of British Insurers (ABI), which has stated that addressing water-related risks to homes and businesses should be a priority, something that may interest those seeking a UK insurance policy.
The organisation's director of general insurance and health pointed to the growing risk from climate change and suggested that spending cuts should not be allowed to affect expenditure on defences, as this would be a "false economy".
Nick Starling told the Local Government Flood Forum that a long-term strategy supported by investment is required to ensure homes, services and businesses are guarded against deluges.
"Damage done to schools and hospitals, not to mention homes and businesses can cost billions to repair," he explained, adding that savings worth £8 are generated for the economy by each £1 spent on defences.
In related news, an Environment Agency representative recently advised that as climate change continues to affect the UK, insurers can assist customers with assessing and reducing flood risks, particularly when they are replacing items damaged in incidents.
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