High and dry? Flooding and uninsured risks
The Statement of Principles on the Provision of Flood Insurance was last renewed by the government and the Association of British Insurers (ABI) in July 2008. Since then, it has underpinned the availability of flood insurance to households and small businesses in the UK. The statement lasts until 1 July 2013. It was envisaged that by that date, the insurance industry would have developed a scheme to make flood insurance widely available without the need for government intervention.
With 1 July looming, no workable solution has yet be found. Discussions continue between the Government and the ABI, but there is no intention to renew the Statement. There is growing concern — aggravated by the regularity of major flooding in various parts of the UK — that following the expiry of the Statement, flood insurance will be withdrawn or made available only on materially increased premiums in those parts of the country at significant risk…
If you are registered and logged in to the site, click on the link below to read the rest of the Shoosmiths briefing. If not, please register or sign in with your details below.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
How do public sector landlords tackle the problem of access in respect of gas safety inspections and fire safety risk in leasehold properties?
OFT launches a market study into residential property management services to leaseholders in England and Wales
The OFT has launched a market study into residential property management services that will look at how the market is working for leaseholders and freeholders in England and Wales.
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…