Insurance is the big issue, not just for us but everyone who has been affected by flooding in the past. Contrary to the Statement of Principles insurance companies are refusing renewals, hiking up premiums and excesses, not passing on policies to new buyers and generally not being cooperative.
Together with Morpeth Town Council and Morpeth and District Chamber of Trade, Morpeth Flood Action Group produced a proposal for the future of flood insurance. It was supported by the National Flood Forum who circulated it round affiliated groups. The original model was presented at one of the working groups that the government set up at their Summit to consider all things flooding and provide affordable insurance. A version 2 model was presented to Defra in late 2011 and was one of a few options being considered, with a ersion 3 presented in May 2013.
The Government has now agreed with the ABI a replacement model. ABI’s Flood Re is similar in some respects to the Morpeth Model but we believe ours is more equitable. Our model also require the insurance industry to share some of the exposure of flooding to high risk properties.