Norwich Union welcomes the reforms announced today by Elliott Morley, Defra minister, on the way funding for flood defences is allocated.
Norwich Union welcomes the reforms announced today by Elliott Morley, Defra minister, on the way funding for flood defences is allocated.
In response to the Government’s Flood and Coastal Defence Funding Review, the insurer recognises the changes as a step towards more effective management of flooding.
As well as the changes to the way funds are allocated, the Review has also pledged to streamline the number of agencies responsible for flood protection schemes.
Although the reforms are welcomed, there are some elements which are still outstanding, including how additional money will be raised for flood and coastal defence, and the role of developers – a particularly important issue in light of recently announced plans to build many more new homes across the South East.
To help protect more vulnerable communities, the insurer is also calling for a review of the criteria used to prioritise where flood defences should be built – an issue which continues to affect those in high flood-risk areas. A recent survey by Norwich Union* revealed that three quarters of people living in high risk areas said there are no flood defences in place or planned for the future to protect their property.
Commenting on the announcement, Nick Pierson, head of public affairs, Norwich Union, said: “In the last 12 months the Government has taken a number of steps towards tackling some of the key elements to managing flood. We’re pleased that today’s Review has recognised the need to urgently streamline the current funding system.
However, we’ve seen by the floods this winter that flooding still remains a threat to many communities across the UK. To help protect these vulnerable communities, we would like to see a review of the criteria used to identify which areas qualify for flood defences by including all the true costs of flooding. We will also be looking to see what proposals the Government have on the role that developers play in protecting homes built in flood-risk areas.”
Tomorrow an adjournment debate on flood and coastal defences will be held in the House of Commons, which gives MPs the opportunity to discuss the issue.
Media contact:
Liz Kennett at Norwich Union press office on 08703 66 68 63
Notes to editors:
- *Norwich Union commissioned research amongst 2,200 adults across the country, including 1,200 residents in eight key flood-risk areas. Interviews took place between 5-18 February 2003.
- Norwich Union has been involved in a number of initiatives to help find solutions to problems of flooding. For example, the insurer has commissioned a digital map of Britain to help pinpoint and understand exactly which areas of the country are at risk from river flooding. The map will be used to provide more accurate premiums for individual homes and businesses according to their risk of flood.
- Norwich Union is the UK’s largest insurer with a market share of around 16 per cent and is more than 1.5 times the size of its nearest rival. It is also the largest personal lines insurer.
- It has a focus on insurance for individuals and small businesses. It insures:
- one in five households
- one in five motor vehicles
- more than 700,000 businesses
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