Press Release
Pitt Report On The 2007 Summer Floods Must Be Acted On Says The ABI
25 June 2008
The ABI today called on the Government to act on the recommendations of Sir Michael Pitt’s report into the 2007 summer floods.
Nick Starling, the ABI’s Director of General Insurance and Health, said:
“This report must not sit on the shelf. By highlighting how under- prepared we are for a major flood, it must be a catalyst for an overhaul in managing and adapting to the increasing flood threat.
“The Government must act now to develop a long-term flood strategy. This must focus on better co-ordination, a thorough reassement of the flood risk from rivers, drainage and the sea, adequate investment and better public information on flooding. All this is crucial to ensure that flood insurance remains widely available and competitively-priced.
“The report recognises the major role played by the insurance industry, and the value of insurance. Last summer, insurers handled 180,000 claims and paid out over £3 billion. The vast majority of the 17,000 people for whom insurers arranged temporary accommodation are now back in their homes.”
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