Flooding: Insurance

Lord Gordon of Strathblane Excerpts

Wednesday 18th July 2012 Lords Chamber

[Lord De Mauley]

My Lords, that is a very important point. We recognise that there are concerns over the continued ability of existing and prospective mortgage-holders to find affordable insurance. We are working with those involved to get a better understanding of what the impact on the mortgage market would be of increased premiums and how lenders would choose to react.

[Lord Gordon of Strathblane]

My Lords, surely the answer is to ensure that planning permission is not given for building on the flood plain unless the developer takes precautionary measures to ensure that the area cannot be flooded in future?

[Lord De Mauley]

My Lords, that is also an important point, which the Government are fully apprised of.