Accusations of incorrect flood plain maps at the Environment Agency won't affect the way insurers rate flood risks, the Association of British Insurers has said.

The Lincolnshire Local Government Association (LLGA) has threatened to take legal action against the agency, claiming the agency's indicative flood risk maps damaged investors' confidence in Lincolnshire.

The LLGA said the maps did not take into account effective drainage, existing flood defences and water management systems.

The agency hit back, saying the maps are not intended to be last word on flooding.