Wakefield MP Mary Creagh has responded to the announcement of a new deal on flood insurance with insurers.
People in areas of high flood risk are being hit now with higher insurance premiums and excesses because incompetent Ministers have failed over the last three years to get a deal with the insurance industry. The process announced today is fraught with difficulties and may not be completed by the time of the next election. The Government’s proposals raise serious questions about how much all householders will pay into the Flood Re scheme, the affordability of flood insurance and who picks up the bill in the event of a catastrophic flood.
– Mary Creagh MP, Labour’s Shadow Environment Secretary,
Negotiations are at an advanced stage. It’s good that the ABI (Association of British Insurers) is standing by the Statement of Principles for a further month and we hope to resolve the remaining issues soon.
Both the Government and the industry are working hard on an agreement to secure affordable insurance for people at risk of flooding.
It's a year since flash floods devastated parts of the Calder Valley. Hundreds of homes and businesses were swamped causing millions of pounds of damage. Chris Kiddey's been back to Hebden Bridge twelve months on.