Insurers welcome end to Statement of Principles uncertainty
Outgoing Allianz UK CEO Andrew Torrance has described the Flood Re deal to replace the Statement of Principles (SoP) as "a step in the right direction".
Following protracted talks an agreement was struck between the government and insurers to "guarantee" affordable flood insurance for homes.
And Mr Torrance - who is set to take over the role of CEO at the Fireman's Fund Insurance Company in the US - said: "Insurers have been engaged in discussions with the government for some time to identify a solution which meets all of the challenges presented by providing widely available and affordable flood cover for domestic properties in the UK.
"[The]
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 info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Pen inks £150m social housing capacity deal with SiriusPoint