UK insurers urge Government to act on flooding
The Association of British Insurers (ABI) wants the Government to fast-track investment in flood defences to prevent a repeat of widespread flooding across tracts of northern, western and central England earlier this year that cost insurers more than £3 billion ($6.8 billion).
Plans to spend £800 million ($1.8 billion) a year in 2010 and 2011 on flood walls are not urgent enough for insurers, who want the Government to bring spending forward.
ABI Director-General Stephen Haddrill says insurers have received more than 130,000 claims for homes, businesses and motor vehicles.
Mr Haddrill has met cabinet ministers to press the case for more urgent action.
"Ministers appreciated the enormous contribution of Britain's insurance industry in dealing with the trauma and loss caused by these floods," he said.