Asked by: Diana Johnson (Labour - Kingston upon Hull North)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, pursuant to the Answer of 17 November 2014 to Question 213979, what steps she has taken to gather evidence to inform her Department's monitoring of the insurance market; and whether there will be an opportunity for (a) hon. Members, (b) small businesses and (c) members of the public to inform her Department's work in this area.
Answered by Dan Rogerson
Evidence on the availability of flood insurance has been provided and considered by Defra at various stages, including during the passage of the Water Act 2014 through Parliament and following the Downing Street Floods summit on 18 February.
I met representatives of small businesses in June to listen to their concerns and to provide an outline of our plans for market monitoring. Findings of the Defra research contract will be published next year. I intend to have another meeting when this work is completed.
Asked by: Diana Johnson (Labour - Kingston upon Hull North)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what the annual salary of the Chief Executive of the Flood Re scheme will be; how that salary was determined; and from what budget funding for that salary will be drawn.
Answered by Dan Rogerson
The salary of the CEO of the Flood Re Scheme is a matter for the Directors of Flood Re who undertook the recruitment, and the Association of British Insurers whose members are currently funding the project set up costs including staff costs. It was determined by reference to current market rates for a reinsurance company. The salary will in future be funded from the Flood Re income and be disclosed in its annual report and accounts, which will be laid before Parliament as a public document.
Asked by: Diana Johnson (Labour - Kingston upon Hull North)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what plans she has to assess the affordability of flood insurance for small businesses in flood hit areas following the expiry of the Statement of Principles between the Government and the Association of British Insurers.
Answered by Dan Rogerson
We are currently undertaking monitoring of the insurance market for both households and small businesses. This will look at the availability of insurance, and the experience of small businesses in obtaining insurance cover in high flood risk areas.