The British insurance Brokers’ Association (BIBA) has launched it’s 2025 Manifesto ‘Partnering to deliver value’.
A key part of the Manifesto focuses on business resilience and keeping up with evolving risks. A significant and growing risk for both personal and commercial customers, is flood, as highlighted by recent storms across the UK.
Analysis by Aviva in January 2024 revealed that 8% of new homes (around 110,000) built in England in the last decade are in a flood zone. The Environment Agency stated that 6.3 million properties (homes and businesses) in England are in areas at risk of flooding from river, sea or surface water.
There are also recent news reports suggesting in some areas SMEs don’t even attempt to get cover because they believe either they can’t get cover or can’t afford what is offered. This has serious ramifications for the resilience of local and national economies and impacts local communities and high streets.
Considering the Government’s plans to build a further 1.5 million homes, relax planning laws to encourage more building, and speculation about the longevity of current flood defence spending, could all impact flood insurance capacity.
Taking this on board, BIBA is committing to:
- support householders seeking access to flood insurance through the Flood Insurance Directory;
- work with Flood Re and insurers to raise awareness of the Build Back Better proposition within home insurance policies; and
- help SMEs to understand and engage with their flood risks and routes to suitable cover.
It is essential that insurance against flood damage is available, and that people and businesses understand their risks and how to mitigate them. BIBA will be working with relevant bodies and stakeholders to achieve its commitments. BIBA CEO Graeme Trudgill said: “It is crucial that local flood authorities can deliver suitable flood protection for homes and businesses which is why one of our most important calls to action is for Government to commit to a long-term investment plan that delivers flood preparedness plans for years to come.
“The Environment Agency predicts climate change could see 25% of properties in England be at risk of flooding from rivers, sea or surface water by the middle of the century. This issue must remain a political priority at all times and across all relevant authorities.”
Jason Storah, CEO UK & Ireland General Insurance, Aviva, added: “As weather patterns become more unpredictable, storms and floods are impacting homes and businesses, putting lives and livelihoods at risk.
“Plans to build new homes across the UK are welcomed, but it’s vital they don’t increase the risk of flooding for existing or new residents. Building new properties in flood zones not only puts new homes at risk. It puts additional pressure on already-strained flood defences and drainage systems which become overwhelmed in heavy downpours and increases the risk of flooding to existing homes in the immediate area.
“As a significant investor in the UK, we agree it is essential to build more homes and planning reforms are an important first step. However, it is crucial that new homes are built in the right places and resilient to current and future flood risks. These aims are not mutually exclusive, and both must be achieved.”
Householders with flood risk looking for insurance can use the Flood Insurance Directory to find a specialist broker. The directory includes verified specialist insurance providers and is a collaboration between BIBA, the ABI Flood Re and DEFRA.
The Directory is available at www.biba.org.uk/flood-insurance-directory. Alternatively, businesses can call BIBA’s Find Insurance Service on 0370 950 1790
Visit the Manifesto microsite or view a PDF
- ENDS –
Notes to editors
- For further information please contact:
BIBA press office:
Pam Quinn, Head of Communications
07562 616686
quinnp@biba.org.uk
Leighann Forsyth, Deputy Head of Communications
07917 738727
forsythl@biba.org.uk
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- About the British Insurance Brokers’ Association
The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.
BIBA membership includes around 1800 regulated firms, employing more than 120,000 people.
General insurance brokers contribute 1% of GDP to the UK economy; they arrange 77% of all general insurance with a premium totalling £105.5bn and 94% of all commercial insurance business.
Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.
BIBA receives hundreds of thousands of enquiries per year to its Find Insurance Services, online and via the telephone, which are directed to insurance broking firms.
BIBA is the voice of the sector advising members, Government, regulators, consumer bodies and other stakeholders on key insurance issues.
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