ABI members have agreed to continue to meet their commitments to offering flood insurance under the existing industry agreement (Flood Insurance Statement of Principles) for one extra month after it expires on June 30, while complex issues are resolved. This ABI guide covers what you need to know.
Topics covered include:
- Why is the ABI in negotiations with the Government on this?
- Just how big is the flood risk in the UK?
- Why can flood insurance not be provided without any government involvement as happens with other types like motor?
- What is the current industry arrangement and why can it not simply be renewed?
- What will happen if my policy is due for renewal between 30 June and 31 July?
- What happens if no agreement is reached by 31 July?