Home in danger of flooding could be uninsurable
11/10/2006 Insurers may pull the plug on flood prone areas of the UK
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Some of Britain's biggest insurers are threatening to stop providing cover to thousands of homes in flood prone parts of the UK unless the Government abandons proposals to cut its spending on flood defences. Recent leaks from the Department for Environment, Food and Rural Affairs (DEFRA) reveal that the Government will cut £15m from its annual spending on flood defences. The number of homes affected by the risk of flooding has more than doubled in the past four years.
Senior insurance industy sources warned that a cut in flood defence spending will endanger the Government's plans to build low cost homes in their thousands across the south east of England. The announcement follows on from the news that the Thames Barrier could be breached if sea levels continue to rise.
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