Insurance of properties

Our understanding is the latest flood risk assessment by the environment agency is 1; 150 years ( one event every 150 years). The latest agreement between DEFRA ( Gov) and ABI (association of British insurers ) was made last June. The result was the present system would continue for 2 years. ( The Gov. will pay a subsidy to Insurance Companies to continue to insure properties subject to flooding.) After 2 years a scheme will be introduced whereby all householders will pay a levy of £10-50 a years to subsidize those in a flood risk area.
This will become law by virtue of the Water bill going through parliament.

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