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Biba reassures flood-risk householders

Householders who live on Britain's flood plains should not worry that they will be unable to take out home insurance cover, it was claimed yesterday.

The British Insurance Brokers' Association (Biba) said that around eight in ten cover applications rejected by "prime" providers can still find insurance elsewhere.

Recent extreme weather has also led risk of flooding to become a key consideration for many potential home loans customers - with 87 per cent telling an esure survey that they "would not consider" buying a home at high risk of being affected by floods.

Head of technical services at Biba, Peter Staddon, said: "Niche markets have developed and one of our members said they look at risk management and they are [still] capable of writing business.

"They are capable of writing eight out of ten policies that have been rejected by the prime insurers."

According to figures from the Association of British Insurers, last year's summer flooding in central and southern England has cost the industry approximately £3 billion.

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