UP TO 400,000 homes in the East of England could be at risk of serious flooding within 35 years unless £8 billion is invested in coastal defences.
A flood forecast issued today by the home insurance industry makes clear that companies may have to withdraw standard cover for risk of flooding from household insurance policies unless the Government commits to dealing with the threat.
The Association of British Insurers’ latest flood catastrophe forecast aims to concentrate minds at the Treasury, where negotiations for public spending are under way.
The report suggests that a rise in sea levels of 15.75in (40cm) could happen as soon as 2040, doubling the number of homes already at risk.
The ABI’s new assessment suggests that up to £4 billion will