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Floods: Insurance

Environment Food and Rural Affairs written question – answered on 12th May 2011.

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Photo of Jamie Reed Jamie Reed Shadow Minister (Environment, Food and Rural Affairs)

To ask the Secretary of State for Environment, Food and Rural Affairs

(1) whether her Department has made an assessment of the effect of inability to obtain home and business flood insurance on the domestic and business property markets in areas where flood defence schemes have been postponed;

(2) what assessment her Department has made of the availability of flood insurance in areas where flood defence schemes have been postponed.

Photo of Richard Benyon Richard Benyon The Parliamentary Under-Secretary of State for Environment, Food and Rural Affairs

The three working groups that were established after last year's Flood summit are examining this and other questions about flood insurance and risk reduction, with a view to establishing a roadmap beyond 2013 when the current Statement of Principles ends.

The existing statement commits insurers to continue to offer insurance to existing customers where they are at significant risk and where there are plans in place to reduce that risk within five years.

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