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MP Hopes Flood Insurance Deal is ‘Imminent’


22nd May 2013

West Worcestershire MP Harriett Baldwin today called for a rapid conclusion to negotiations to secure long-term flood insurance cover for county homes and businesses.

The MP has quizzed Environment Secretary Owen Paterson and Flooding Minister Richard Benyon regarding progress on securing a deal with the insurance industry.

A deal struck with insurers to guarantee insurance for homes and businesses was due to expire next month without any replacement agreed. The so-called ‘Statement of Principles’ has been extended until the end of July while both parties attempt to find a new formula.

Last week, Harriett raised the issue in the House of Commons and expressed her concerns at the length of time taken to secure a long-term deal with insurers.

Yesterday (Tuesday) Harriett attended a meeting with Richard Benyon where she was given a further update on negotiations.

Harriett commented: “There are many constituents in West Worcestershire who are extremely concerned at the length of time it has taken to secure a deal and in particular the way that the insurance industry is holding the Government to ransom.

“Millions of pounds have already been spent providing long-term protection for homes and businesses in my constituency, and flood and schemes like those in Upton have already paid for themselves saving insurance companies from large payouts.

“In this country, it has benefitted from this massive Government investment and I hope that it will go the final mile to ensure peace of mind to hundreds of people across the county who wait nervously for news on these negotiations.

“The UK insurance industry has a great reputation across the world and plays an important role both economically and as a major employer.

“I am assured by Ministers that a new deal is imminent and I hope the two parties will be able to work together swiftly to find a solution that we will be able to share with local people in the very near future.”



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Harriett Baldwin
 
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