HBOS extends flood insurance

HBOS today announced it is to continue providing house and contents insurance cover for homes located in flood plains until 2005, despite the near ending of an industry agreement with the government to provide such cover. HBOS has also promised not to impose premium rises of more than 5% per annum during that time for the 1.8 million properties it covers in those areas. The government deal involved the Association of British Insurers following two years of disastrous floods across the UK, which threatened to cut off all insurance contracts on millions of homes. Flooding...