Amanda Blanc, CEO of Aviva, highlighted concerns that new homes being constructed in England may become uninsurable due to increasing flood risks. She noted that approximately 115,000 homes are expected to be built in flood zones over the next decade, with significant portions at medium to high risk of flooding by 2050.
Blanc emphasized the need for careful planning in construction near flood-prone areas, as current trends indicate that nearly a third of new homes built in 2024 will face flooding risks. The Met Office has also reported that extreme weather events are becoming more frequent, raising the urgency for policy discussions on housing and infrastructure.
Watch for potential shifts in housing policy as the government grapples with the implications of building in flood zones. The upcoming Budget on October 28 may reveal strategies to address these risks, impacting both construction practices and insurance frameworks.