Leasehold flood risks: Readers may remember that DEFRA (Department for Environment, Food and Rural Affairs) had been persuaded to support a new affordable flood risk insurance scheme which guarantees flood cover for most homes. This scheme called “flood re” was promoted by the ABI (Association of British Insurances) as part of the Water Act 2014. […]
Most flat owners remain excluded from Flood Re, the government’s scheme to ensure that flood-prone properties are covered by some form of insurance. LKP has written to DEFRA Minister Dan Rogerson expressing its strong disappointment. Flood Re is a government-brokered deal with insurers that aims to ensure that those in homes at risk of flooding […]
Forfeiture and how to bring it to an end was the subject of a LKP meeting with the Council of Mortgage Lenders and the Building Societies Association in London this afternoon. LKP is trying to push the subject of forfeiture up the political agenda: for all leaseholder readers new to this site, forfeiture means you […]
The government has now passed a new Water Bill, which among other issues covered its flood insurance scheme Flood Re. It appears from the outset DEFRA had worked with the Association of British Insurers (ABI) to define how this cover would work.
Last week (Monday June 23) LKP met DEFRA Minister Dan Rogerson for a round table meeting with other leasehold groups about the flood insurance proposals in the Water Bill. All are concerned flooded leaseholders will be left out of the government’s Flood Re scheme. The only organisations seemingly unconcerned is the Association of British Insurers. In […]
The British Insurance Brokers’ Association has launched a survey for leasehold flood insurance to find out how leaseholders have been affected by the winter deluge. At present, leasehold properties are excluded from the government’s Flood Re insurance scheme and BIBA wants to quantify the evidence. The exclusion also applies to small businesses, homes built after […]
The Financial Times refers to figures on the leasehold sector supplied by LKP in its report on flooding insurance. The article was written by insurance correspondent Alistair Gray.
The Leasehold Knowledge Partnership joined forces with the British Property Federation and the Council of Mortgage Lenders to warn government that millions of homes would be excluded from its flooding insurance initiative Flood Re.