Insurers refuse to back government plan to extend Statement of Principles

Insurers have declared they are unwilling to green-light a temporary extension to the Statement of Principles unless the government provides “a definite commitment” that a long-term flood risk solution is imminent, after Environment Secretary Owen Paterson said an extension to the SoP – due to expire on 30 June – is likely to be explored.

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Speaking at a recent Environment, Food and Rural Affairs select committee hearing, Paterson said it is “almost certain” that primary legislation will be needed to implement “whatever