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Insurers Call For Flood Defence Investment

flood insuranceA campaign started by the Association of British Insurers (ABI) has cried out for an additional investment of £1 billion per year in order to keep up with climate change and the ever-increasing risk of flooding.

George Osborne, Chancellor of the Exchequer, has been encouraged to invest £1 billion per year in flood defences in this year's budget. The ABI has launched a campaign called 'The Flood Free Homes Campaign', urging Mr Osborne to increase spending in order to keep up with our ever-changing climate.

The campaign, which has received support from the National Flood Forum and Friends of the Earth, has calculated that the gradual decline in flood defence spending in the past 5 years has exposed a shortfall of £500 million between the current figures and how much is required to tackle the problem.

The ABI's Director of Advocacy Louise Hanson said: "The UK's increasing flood risk must be a national priority if we are to protect our communities who live in constant fear of flooding. It is vital that we have political concensus on how we manage our land and water in order to have the ambitious long-term solutions we need to effectively manage flood risk. We need a coordinated approach to flood defence investment, much more than just one-off payments."

James Savery, 20 March 2015

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