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D-Day for future of Hull flood insurance

Hull North MP Diana Johnson has described as “vital” tomorrow’s meeting (Wednesday 31 October) between the insurance industry and Government ministers on the future of flood insurance.

Many Hull residents have seen their insurance premiums and excesses increase steeply since the Hull floods in June 2007. To ensure that all households could obtain continued home insurance cover the then Labour Government agreed a ‘Statement of Principles’ with the insurance industry in which insurance companies agreed to cover all flood risk areas in return for adequate Government investment in flood defences.

This Statement of Principles expires in July 2013. Unless it is replaced people in Hull will find it even more difficult to get flood insurance cover. So far the Government has not reached an agreement with the insurance industry.

Tomorrow the Association of British Insurers (ABI) will meet with Owen Paterson, the Secretary of State at the Department of Environment, Food and Rural Affairs (DEFRA), the Treasury and the Cabinet Office to discuss the problem.

Diana Johnson MP said: “This is a vital meeting between the insurance industry and the Government that could determine whether Hull residents and businesses can get affordable flood insurance after July 2013.

“Time is pressing and we need this Government to get its act together and come to a robust agreement with insurers that protects flood risk areas into the future.”

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