Proposed flood resilience strategy gains insurance industry backing

Insurance Business America | May 10, 2019

Flood resilience for all infrastructure by 2050 – that is part of the vision set out by a new flood and coastal resilience strategy which has been welcomed by the likes of Flood Re. Launched by Environment Agency (EA) chair Emma Howard Boyd in London, the long-term strategy for England outlined the need not only for an average of £1 billion to be invested annually in traditional flood and coastal defences and natural flood management but also for consistent standards for flood and coastal resilience nationwide. An eight-week consultation on the strategy, whose recommendations include requiring flooding and coastal change projects to support local economic regeneration, has been opened. Based on the responses, the Environment Agency will come up with a final document that will be laid before Parliament in winter 2019. Commenting on the initiative, Flood Re chief executive Andy Bord said in a statement: “Flood Re welcomes the Environment Agency’s new long-term strategy to tackle flooding and coastal change which aligns with our own long-term goals and plans.

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