Product category:
General insurance
News Release from: Royal & SunAlliance (R&SA) | Subject: Property insurance
Edited by the Insidemoneytalk Editorial
Team on 27 June 2008
RSA/MORE TH>N response to Pitt Report
RSA / MORE TH>N response to the Pitt Report Alan Gairns, Property Insurance Manager, RSA and it's direct arm, MORE TH>N, comments on the Pitt Review on the summer 2007 floods.
"Following the publication of the Pitt Review this morning, RSA welcomes that Sir Michael Pitt and his team have acknowledged many of the concerns put forward by the insurance industry This report confirms the critical importance of focussing on flooding from all sources
However, RSA is particularly concerned that the report does not address the key issue of minimising the flood risk for the 517,000 households at significant risk of flooding now.
Under current Government spending plans only 45,000 of these 517,000 households will benefit from increased protection over the next three years.
In light of the fact that the risk of serious flooding is only going to increase in future, we believe that is it essential that the Government's long term investment strategy addresses the key issue of additional investment in flood management.".
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