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Millions more homes in England, Scotland and Wales face devastating floods, and some towns may have to be abandoned as climate breakdown makes many areas uninsurable, a Guardian investigation has found.
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Aviva’s report highlights growing concern within the insurance industry about the impact of severe weather events that are being driven by the climate crisis.
Storah said: “We are not talking about this because we are waving a flag about climate or sustainability – it’s nothing to do with that, our business is totally correlated with what happens in the environment … we are in this and we cannot avoid it.”
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Over the past decade, 110,000 new homes were built in the highest risk flood zones, equivalent to one in 13 of the new homes built. Aviva calculates that if this trend were to continue, 115,000 of the government’s planned 1.5m new homes would also be in the highest-risk flood zones.
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“We can’t keep building defences taller and higher to deal with larger and more frequent floods. Working with natural processes, such as reconnecting rivers to their floodplains, restoring wetlands, and planting woodlands to intercept rainfall have the benefits of improving our natural environment alongside reducing flood risk.”
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