Ministers met insurance industry leaders to discuss how the industry is stepping up to help hard-working people affected by the floods.
The CEOs of Aviva, Direct Line Group, Axa, Lloyds Banking Group and Ageas, along with the Claims Director of RSA and the Association of British Insurers restated their commitment to voluntarily maintaining the 2008 Statement of Principles on flood insurance until the guaranteed affordable flood insurance scheme, Flood Re, is delivered in 2015.
The Flood Re scheme was agreed between government and industry last June. The insurance companies assured ministers that there has been no evidence of insurers raising premiums for flood risk properties in advance of Flood Re starting in 2015.
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