UK Insurers Urge Next Gov't To Protect Flood Disaster Fund

Law360, London (November 13, 2019, 11:07 AM GMT) -- British insurance brokers have called on whoever forms the next government to promise to set money aside for protection against floods, as extreme weather washes across the North of England and the December general election looms.

Boris Johnson's government has made a commitment to ring-fence, or reserve, money from its insurance premium tax to deal specifically with flood prevention and recovery, the British Insurance Brokers' Association said Tuesday.

But whichever government is elected at the Dec. 12 election must make sure this money is not funnelled into other projects, the insurers said, particularly in the aftermath of the recent torrential downpours...

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