New Environment Agency chief executive Dr Paul Leinster is urging the insurance industry to do more to help people whose houses have flooded. Speaking at the Institute of Economic Affairs’ The Future of General Insurance conference, Dr Leinster told the industry they should rebuild flood-hit houses to be better prepared for flooding.
“Where homes are flooded, we want them rebuilt to more flood resilient standards. We welcome the Government’s recent consultation which shows willingness to consider making resilient rebuilding compulsory”, he said. “Measures such as waterproof plaster, solid floors and electrical fittings placed higher up the walls, not only reduce damage but mean people can be back home faster. And it is vital that people get back into their homes faster.”
Citing the Foresight Flooding study Dr Leinster told the audience that the annual cost of damage from flooding could rise from the present level of £1 billion to £25 billion in the worst case scenario by 2080. The number of people at a high risk from flooding could rise from 1.5 million to 3.5 million. People should be taking responsibility to prepare for flooding he said, but he asked the insurance industry to consider giving customers financial incentives to do this. For example reducing premiums and excesses if customers sign up for free flood warnings, purchase flood protection tools or take steps to make their properties flood resilient.
“Between us we can reduce the risk and impacts of flooding, by preventing housing development in the flood plain, making properties more resilient, getting people back into their homes as fast as possible and protecting critical infrastructure”, he said.
The Environment Agency flood guides Preparing for a Flood, During a Flood and After a Flood are available from the Environment Agency website or by calling Floodline on 0845 988 1188.
