Homeowners insurance threatened for Scottish residents in flood-struck regions

Scotland flood homeowners insurance

People in Scotland could lose their coverage after extensive flooding hit their areas. British insurers are cautioning that thousands of people living in Scotland may suddenly find that it is impossible to purchase homeowners insurance for their properties unless the U.K. government is willing to underwrite the claims. At the moment, one in every 22 Scottish residential properties is at a flooding risk. According to data that has been released by the Scottish Environmental Protection Agency (SEPA), there are 125,000 properties in the country that could lose their ability to…

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Many U.K. homeowners may not be able to obtain flood insurance by 2014

The Association of British Insurers (ABI) has made an announcement that indicates that approximately 200,000 homes throughout the United Kingdom that are at a high risk of flooding might not be able to obtain flood insurance coverage beyond 2014. This announcement came close on the heels of widespread predictions that the government may not be able to come up with the necessary funds for building the required flood-control infrastructure, despite the fact that climate change is causing water and sea levels to continually rise. Some have suggested that many homeowners…

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