WEST WORCESTERSHIRE MP Dame Harriett Baldwin has urged insurance companies to review their policies to make sure that Tenbury’s town centre properties are able to access flood cover.
The MP has raised her concerns with the Association of British Insurers and the insurance brokers’ association after being briefed that the town council was struggling to find affordable insurance cover for its listed buildings.
Dame Harriett also asked the insurer to review its policy after initially cancelling the cover.
Over the last six weeks, the MP has been in touch with a number of major insurance companies to attempt to understand the sudden change in policy and the threats this may cause to other businesses in the town.
Dame Harriett said: “I was alarmed that Zurich decided to change its coverage policy, seemingly on the basis of media reports about the town’s flood cover.
“For many years, the company has offered flood insurance and now its position has changed and the town is having to find alternative quotes.
“My overarching concern is that I’m hearing reports that other businesses in the town are facing the same issue and this could have a serious impact on the future of the town centre if they can’t get affordable flood cover.
“As the industry body, I have met with the ABI to share my concerns and I am hoping that some pressure will be applied to encourage a competitive market for business property insurance.
“I’ve also written to the Treasury to highlight this issue and I encourage any Tenbury businesses who are facing similar issues to get in touch.
“The work to deliver individual property protection is progressing but this is yet another indicator that we need a fully funded flood defence scheme.”
