Flood levy could add 10% to home insurance premiums

Secretary of state for environment food and rural affairs Caroline Spelman

Caitlin Morrison
12 Jul 2012

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The Daily Telegraph has reported that Ms Spelman is in talks with the insurance industry about the levy which could increase the average cost of home cover by 10%.

Ms Spelman told MPs in a statement that she was close to reaching a deal with the industry, and said: “The government is considering with the industry’s support a way of formalising existing pricing arrangements and maintaining the current cross-subsidy in place between policyholders.”

She added: “The Government and insurers are

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