Aviva Warns New Homes May Become Uninsurable Due to Flood Risk
🐿️ The Squirrel's Take
Building homes in floodplains is a short-sighted gamble that will leave homeowners and insurers holding the bag when premiums skyrocket or coverage vanishes.
💡 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.
📡 Where we spotted it (2)
BBC News
Warning more homes will be uninsurable due to flood risk
3h ago
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The Guardian
New UK homes in flood-risk areas could become uninsurable, says Aviva boss
3h ago
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