ABI flood agreement

The Association of British Insurers and the government have confirmed an agreement to maintain the availability of flood insurance. The agreement outlines the actions that the government and the industry will take in the long term and will allow cover for existing domestic and small business customers at significant risk, providing there are plans to reduce the risk to an acceptable level within five years. Stephen Haddrill, the ABI's director general, said: "We are pleased the government recognises that a long-term investment strategy, adequately funded, is the best way to manage the growing flood threat."