UK cuts funding for flood protection

Insurers refuse to pay damages from the flood.
Millions of homes and small businesses in the UK are faced with an unexpected obstacle. The government has cut funding for the flood protection of settlements and industrial facilities. Now insure the property will become more difficult.
Experts believe British Property Federation, the insurance companies will increase premiums or refuse to cover losses at all.
Bill Gloin, chairman of the Insurance Committee British Property Federation, said: "Flooding is a big risk. If the insurer refuses to pay damages, and it is already the case in some regions of the UK, the consequences would be disastrous. "
Gloin suggests that such a scenario could cause a collapse in the property market UK: "Without insurance it would be impossible to get a mortgage. Without a mortgage, and not the real estate market. "
2 billion pounds sterling, the British Government has allocated to the program for flood protection from 2011 to 2015. By comparison, from 2008 to 2010, the cost of funding for the program amounted to 2.15 billion pounds.
British Property Federation advocates for increased funding, and for the fact that insurance companies have taken into account the steps that homeowners take on their own to deal with floods.

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