anyspacedirect news

UK commercial property owners struggling to obtain flood insurance

28th January 2012
UK commercial property owners are on red alert after it was claimed property worth over £200 billion would be left uninsured following the end of the UK government’s flood insurance agreement.

The government has revealed it is ending its principles agreement of insuring properties at risk of flooding from 30th June 2013. This could leave as many as 25 per cent of all UK premises at risk, with up to £214 billion worth of property at risk, according to property search firm, SearchFlow.

Following the news of the government's statement of principles on insuring properties at risk of flooding is due to end, many property owners are being quoted extortionate premiums by insurers who are now keen to rid themselves of high-risk premises from their portfolio.

Read the full story Commercial property owners facing flood insurance issues on today.
Back to listing