Climate Change: Housing Insurability, Mortgage Lending and Financial Resilience

Lord Forsyth of Drumlean Excerpts

Monday 13th July 2026 Lords Chamber

[Lord Livermore (Lab)]

The noble Baroness is absolutely right about the importance of getting on with housing and infrastructure, and that is what this Government are seeking to achieve. She is absolutely right to say that a resilient and affordable insurance market is necessary for enabling businesses and households to recover quickly from climate events. The Climate Change Committee has assessed that the insurance gap is currently low relative to most countries. However, without sufficient adaptation, the number of properties that do not have the necessary insurance is expected to grow as climate risks increase. The Government are committed to ensuring that the long-term impacts of climate change are managed. The Government will strengthen the UK’s approach as part of the fourth national adaptation programme, which will set stronger adaptation objectives to improve preparedness for climate impacts.

[The Lord Speaker (Lord Forsyth of Drumlean)]

My Lords, the noble Lord, Lord Campbell-Savours, is taking part remotely. I invite the noble Lord to speak.

[Lord Campbell-Savours (Lab) [V]]

My Lords, on housing insurability, what consideration is being given to the problem of premium escalation and refusal to insure in areas that have not flooded but are shown as at risk on flooding mapping due to climate change? Would it not be helpful if we could have some review on how local authorities disseminate such information, its effect on premiums and how it is used during property conveyance? I declare an interest as a resident of an apartment where flood protection measures have enabled us to avoid the increased premiums I am referring to in this question.