Flood in­sur­ance levy ‘un­fair’

Yorkshire Post - Property - - PROPERTY -

SUR­VEY­ORS have at­tacked gov­ern­ment pro­pos­als on flood­ing in­sur­ance as vague and un­fair and say some prop­er­ties could be­come blighted and un­mort­gage­able.

En­vi­ron­ment Sec­re­tary Caro­line Spel­man is in talks with the in­sur­ance in­dus­try to charge a 10 per cent levy on all home in­sur­ance pre­mi­ums, with own­ers in non flood-risk ar­eas sub­si­dis­ing those in dan­ger. She says that the levy would help home own­ers af­fected by flood risk.

The Royal In­sti­tu­tion of Char­tered Sur­vey­ors is crit­i­cal of the idea. Alan Cripps, RICS as­so­ciate di­rec­tor, says it pe­nalises home own­ers in low flood­risk ar­eas, but forced oth­ers to pay ex­tra to their in­sur­ance com­pa­nies.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.