New English homes in flood-risk areas could become uninsurable, says Aviva boss — SkimNews
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- Amanda Blanc, CEO of Aviva, warned that homes now being built in flood-risk areas of England could become uninsurable because flooding threats are "absolutely increasing" and told planners and housebuilders "it's dangerous."
- Blanc said 110,000 homes had been built in flood areas over the past decade, with another 115,000 projected over the next ten years, urging a rethink on where new properties are sited.
- Aviva's research found that 26% (101,657) of new-build homes already carry some flood risk, and one in seven will be at medium-to-high risk by 2050.
- The Environment Agency estimates 6.3 million homes and businesses in England are currently at flood risk, potentially rising to 8 million — one in four properties — by mid-century as the climate crisis worsens.
- Blanc called on the government to avoid pension policy "kite flying" ahead of Chancellor John Healey's first budget on 28 October, noting Aviva saw 30 times the normal volume of pension withdrawals last year amid pre-budget speculation.
- Blanc announced she will step down as BP's senior independent director next year after five years on the board, calling the role "a tough gig" amid two chair searches in a year.
Why it matters: Britain's biggest insurer is effectively telling housebuilders and planners to stop siting new builds in flood-prone areas, warning that an unmortgageable, unsellable housing stock could emerge. With 225,000 flood-area homes already built or planned over 20 years and the Environment Agency projecting one in four English properties at flood risk by 2050, the warning lands before any single flood event makes the threat tangible to homeowners and lenders.
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