💰 Business Published 20d ago · 2 sources

Aviva Warns New Homes May Become Uninsurable Due to Flood Risk

💡 Why it matters

If new homes become uninsurable, it could create a wave of mortgage prisoners and depress property values in vulnerable areas, straining homeowners and local economies.

Aviva CEO Amanda Blanc said homes being built in flood-risk areas in England could become uninsurable in the future, citing an 'absolutely increasing' flooding threat. The warning highlights growing climate risks for the insurance industry and housing market.