MP presses companies over flood-danger cover (From Worcester News)

MP presses companies over flood-danger cover

7:40pm Wednesday 4th January 2012 in News By David Paine, @davidpaineWN #worcsnews

MP presses companies over flood-danger cover

INSURANCE companies should do more to cover flood-risk properties, says an MP.

A large number of people are worried that the lack of perceived help coming from the Government will result in huge rises in flood insurance premiums making their homes uninsurable and unsaleable.

This is because the Government recently said it will not subsidise the insurance market once there is a change in the way companies price premiums for flood-affected homes, instead focusing its attention on building flood defences such as the bund at Kempsey and in Hylton Road, Worcester.

As a result, constituents worried that they will be denied home insurance next year when the statement of principles between the insurance companies and the Government comes to an end have flooded West Worcestershire MP Harriett Baldwin’s mailbox.

She said she has spoken to the Environment Agency about updating its flood-risk map to reflect improvements in places like Pershore, Uckinghall, Powick, Upton-upon-Severn and Kempsey and said: “Where property-owners have taken steps to build in more resilience to their homes or businesses, this should also be reflected.

“I now feel it is time that the insurance companies took this investment into account and committed to offering a fair package to home and business owners.”

Mrs Baldwin urged anyone who runs into difficulties with their insurance on this matter to contact her or the Association of British Insurers. It is estimated there are 55,000 people in Worcestershire whose homes are deemed to be at risk.

A Defra spokesperson said: “We want flood insurance to remain widely available and are continuing to work with the insurance industry to ensure that this will be the case after the current agreement between Government and insurers expires in 2013.

“As part of these discussions, over the next few months we will consider whether there are feasible, value-for-money ways of targeting funding support to those most in need.”