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Flooding: Insurance

Volume 697: debated on Monday 10 December 2007

asked Her Majesty's Government:

What discussions have taken place regarding their role as insurer of last resort for flood damage caused on buildings to be constructed in areas designated as at high risk of flooding. [HL508]

There is a functional and competitive insurance market through which cover for flooding is available to nearly all households.

The Government have no plans to subsidise flood insurance or act as insurer of last resort for flood damage, which we believe would damage the insurance industry, be unfair to taxpayers and be unsustainable in the long term.