British Flood Insurance Might Not Work

candles and fireplace inside a homeThe British government and a group of insurers have proposed  to cap rates for flood insurance for certain high risk properties. Experts are saying that the proposal might not work out.

Studies suggest that flood risk in the country is going to increase in the years ahead because of climate change. Because of that, the proposal might not work at all.

According to an article from canadianunderwriter.ca, “The paper claims that a previously-released “impact assessment” of the Flood Re scheme does not mention the effect of climate change.”

You can read the full article here.

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photo by: State Farm

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