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Flood victims concern over possible insurance premium hikes
FLOOD victims concerned about their insurance premiums skyrocketing met with insurance companies at a flood surgery in Huntworth.
Among the plans set to be introduced is Flood Re, the not-for-profit flood fund developed between the Government and the Association of British Insurers (ABI).
The scheme, set to be introduced in the summer of 2015, would ensure that flood insurance remains affordable and available to homeowners at high flood risk.
Bridgwater MP Ian Liddell-Grainger attended the flood meeting and met with insurance providers. Speaking to the Mercury, Mr Liddell-Grainger said: “It was a very constructive meeting and I’m very glad they made the effort to come down.
“I wanted to know what levels the premiums were likely to be for flooded people. They are seriously looking at ways to keep premiums down if you live in flood plains.
“What information they need is whether this going to happen again, and if it is going to happen again, how do we protect people?
“Do we need to have a flooding pot to help mitigate the damage? All these things are being discussed quite openly.”
Insurance companies came down to see the cleanup operations in places like Moorland and Fordgate and to meet homeowners who have had their houses devastated by flooding.
David Pitt, claims director at the insurance company RSA, told the Mercury: “In this area we have 18 customers that have been flooded. I wanted to come because the flooding was so severe and we’re at the stage where they are starting to dry out and at a critical stage of repair.
“All insurers forecast for weather events. We always make allowances for these kinds of events happening. It was very severe and extensive here and what increases the cost is the water was standing there for a long time. One property I went to the water was as high as the fireplace and was there for three weeks.”
Mr Pitt said that insurance companies would support any kind of flood defences. He said: “Flood defences are obviously going to reduce the risk of flooding and that’s an important piece. It’s critical for us that we take account of things like that. We would support those kinds of actions.”
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