It has been a dispiriting time for businesses and householders affected by flooding. The Government's response has been sadly lacking and a political disaster. There is news of a sequal!
There is a draft Water Bill winding its way through the House of Lords, Part 4 of which includes provisions known as "Flood Re" (where "Re" stands for reinsurance) intended to spread the extra cost of flood insurance in high risk areas across all residential insurance policies. The aim is to avoid insurance being with-held, or becoming exorbitantly expensive, in high flood risk areas. However the extensive exclusions (millions of properties) have enraged many and rightly so. The exclusions as at 22 Jan 2014 are:
- Leasehold properties;
- The entire private rented sector;
- Small and medium-sized enterprises (SMEs);
- Housing association homes;
- New-build homes constructed after January 2009;
- Council homes; and
- Properties in council tax band H.
We already have town centres blighted by wrenching change, spiraling business rate and high parking charges. This measure, if approved by Parliament unchanged, could create a new blight on our seafronts in Cornwall. The new legislation will replace a voluntary scheme run by insurers at the Government's request.
Speak to your MP if you do not like what you read.
Water Bill & progress through Parliament: click here