There are numerous news articles that have been posted on Google over the past twenty-four hours concerning flooding in the UK. It would seem that recent bouts of flooding in parts of the UK and the ongoing crisis of flood insurance reforms, not to mention a recently published news release from the Association of British Insurers (ABI), have lead to a flurry of media report.

The ABI news release documents the organisation’s call for the government to commit to a joint solution to ensure long term affordable flood insurance for high-risk households. This follows the Government’s refusal to consider providing a temporary overdraft facility to a proposed not-for-profit special insurance fund for 200,000 high-risk households. These households, according to the ABI, will otherwise struggle to get affordable household insurance when the current government imposed system expires in 2013. The temporary overdraft would be used to pay claims in the event of flooding, such as that which was experienced in 2007.

Nick Starling, Director of General Insurance at the ABI has said,

“The Government has indicated it will not provide any temporary overdraft facility for the insurance industry’s not for profit scheme, which makes it very difficult for it to go ahead. As a result, negotiations have hit an impasse. Insurers know their customers are increasingly worried about flood cover and we will therefore continue talks with Government to try and find a way forward.”

For information or for helpful advice then visit the “flooding” page on the ABI website.