The following Environment practice note produced in partnership with Groundsure and Burges Salmon provides comprehensive and up to date legal information covering:
The Association of British Insurers (ABI) and the government had an agreement, known as the Statement of Principles (SoP), in place since 2000.
The SoP provided a commitment from the insurance industry to make flood insurance for domestic properties and small businesses available as part of standard household and small business policies if the flood risk is not significant (generally defined as no worse than a 1 in 75 year annual probability of flooding).
The SoP also committed insurers to continue to offer flood cover to existing domestic and small business customers who were at significant risk (over 1 in 75 year annual probability of flooding). This continuation of cover was on the proviso that the Environment Agency had announced plans to reduce the risk of flooding in that area to below 1 in 75 annual probability within five years as part of their Medium Term Plan.
Insurers would also continue cover for the new owners of a previously flooded or at-risk property if the original customer decided to sell. The SoP did not apply to any new property built after 1 January 2009, in an attempt to discourage inappropriate development in flood plains.
The SoP was never intended as a long-term, sustainable measure, and on 27 June 2013, the ABI and the government agreed a Memorandum of Understanding on
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
Scotland: the Accountant in BankruptcyThe office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act 1856 . Previously, the functions of the AiB were limited but since 1993, with the enactment of the Bankruptcy (Scotland) Act 1993 (B(S)A 1993), the role
The third edition of the Standard Commercial Property Conditions was published on 27 April 2017 a
When transferring an interest in land, any fixtures form part of the land and are transferred with it, unless there is express provision to the contrary. Fittings (also known as chattels) do not form part of the land and will not be included unless it has been expressly agreed otherwise. Difficulty
Stay of proceedings—when can you apply to stay a claim?This Practice Note considers the question of when court proceedings can be stayed. It identifies scenarios in which a party may apply for a stay of proceedings, including to allow for: a jurisdictional challenge; arbitration; an attempt to
0330 161 1234