The state we’re in

If the UK is to avoid another economic crisis in the near future, insurers and the government need to join forces to tackle flood insurance, says Tony Cornell

For most of history, insurers and the state have gone separate ways with minimal conflict and an understanding of each other’s roles in protecting business and society. One potential conflict was terrorism cover following the IRA’s campaign on the UK mainland. However, this was resolved fairly easily by the establishment of Pool Re, a government-backed arrangement. This ran alongside limited private sector cover and has never made a call on government funds and indeed has produced substantial