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1st July 2012

Flood Insurance Provision and Affordability Beyond the Statement of Principles: Implications for Scotland

Flood Insurance Provision and Affordability; Cover photograph courtesy of: Andrew Black (2002)

This survey makes a preliminary assessment of possible social implications in Scotland of changes to the flood insurance market that may follow the end of the Scottish Statement of Principles on the provision of Flood Insurance. The Statement was agreed between the Scottish Government and the Association of British Insurers (ABI) in December 2008 and is due to finish in July 2013. It has both secured the availability of flood insurance to communities at risk of flooding in Scotland, and ensured that the Scottish Government has invested in flood risk management measures during this period. The ABI have made clear that they do not intend to renew the agreement owing to their belief that it prevents the development of a free market in flood insurance.