Commercial property contracts under threat from flood defence cuts, says JLT

Cyclist riding through flooded road

Mr Gloyn stated that insurance against flood damage is critical to a whole range of contracts in the real estate business - construction contracts, leases and funding agreements.

Although cover is currently available in the UK, the Statement of Principles agreed between the Association of British Insurers and the government in 2008 stipulates that the government must maintain and improve the country's flood defences. That deal and the continuity of flood insurance is in doubt according to Mr

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: