Meeting this afternoon top discuss statement of principles

The ABI will meet government ministers led by environment minister Phil Woolas this afternoon, to discuss the review of the statement of principles of flood insurance.

Stephen Haddrill, director general of the ABI said:'The insurance industry played a major role in helping our country recover from the terrible floods of last summer and will pay out £3bn compensation to affected customers. Insurers want to continue to provide flood cover as standard to as many customers as possible. The statement can only continue if the Government commits to addressing the lessons of last summer fully. That will require major new investment, especially in drainage.".

The review will :

  • Assess the information and mapping currently available and ensure better understanding of flood risk
  • Agree the approach to a long term strategy in order to provide effective flood risk management
  • Agree steps to prevent the building of new developments in areas of high flood risk
  • Promote increased resilience and address the interim conclusions from the Pitt Review on the availability and uptake of insurance