Flood Re has urged the federal government to spend not less than £1bn a 12 months to maintain tempo with altering local weather dangers and make sure the safety of properties and companies within the UK from the devastation flooding brings.
Flood Re, a joint initiative between the UK authorities and insurance coverage trade, made the decision noting the federal government is at present contemplating long-term spending plans.
It additionally unveiled analysis exhibiting flood defences stop £1.15bn in flood-related harm to UK properties every year.
The evaluation commissioned from flood threat modelling firm Fathom was on households alone.
This discovered the overall determine would exceed £2bn if all varieties of harm had been included akin to enterprise, industrial and agricultural as
Solely customers who’ve a paid subscription or are a part of a company subscription are in a position to print or copy content material.
To entry these choices, together with all different subscription advantages, please contact info@insuranceage.co.uk.
Copyright Infopro Digital Restricted. All rights reserved.
You could share this content material utilizing our article instruments. As outlined in our phrases and situations, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised Consumer could solely make one copy of the supplies for their very own private use. You will need to additionally adjust to the restrictions in clause 2.5.
If you need to buy further rights please e mail info@insuranceage.co.uk
