Amanda Blanc, chief executive of insurance firm Aviva, has raised concerns about residential construction in flood-risk zones, stating that current building patterns could result in properties becoming uninsurable in the future.
Blank highlighted that around 115,000 new homes are projected to be constructed in flood zones over the coming decade, despite known risks. She emphasized that flood-vulnerable areas are well-documented and should be carefully considered during the planning process. According to Aviva research, approximately one in nine homes built between 2022 and 2024 face medium to high flooding risk. The data suggests that nearly a third of homes constructed in 2024 could experience some flooding by 2050, with one in seven at significant risk as extreme weather intensifies.
Blanc noted that building approaches in and near flood zones require modification, including property improvements that can reduce vulnerability to flooding. The Environment Agency estimates that approximately 6.3 million homes and businesses in England currently face flooding hazards. Recent meteorological assessments indicate that extreme wet winters, such as the one recorded in 2023-24, have become significantly more frequent due to global warming trends.
The Department for Environment, Food and Rural Affairs responded to these concerns by citing record investment to protect nearly 900,000 properties from flooding damage. Officials stated that planning reforms aim to prevent housebuilding in flood-risk areas while supporting the construction of 1.5 million homes.
During the interview, Blanc also addressed pension policy matters, cautioning against speculative policy announcements ahead of the Chancellor’s Budget on 28 October. She noted that uncertainty about potential pension changes has prompted unusually high withdrawal rates from retirement accounts, which may disadvantage consumers long-term. Aviva indicated readiness to invest over £100 billion in UK infrastructure, including £35 billion directed toward projects such as hospitals, schools, and renewable energy facilities.
Article Attribution | Read More at Article Source
Article summary produced by Claude AI