Flood Defence Protecting Property
Property-Level Flood Protection Scheme Officially Opened
The Bin Brook Individual Property Protection Scheme was officially opened last Friday (30 March) by the Chair of the Regional Flood and Coastal Committee, Steve Wheatley, and officers of the Environment Agency.
The measures installed included door barriers, air brick covers, non-return valves, toilet bungs, sealing around service pipes and waterproofing of walls to a total of 26 properties. The total cost of the scheme was approximately £96,000, funded by a £54,000 government grant and added to by Local Levy funding and £14,500 of residents contributions.
FloodSax® wins award to help it go global
THE pioneering FloodSax ® and BlastSax® have scooped an award to explore export markets worldwide.
Environmental Defence Systems came second in a high profile regional
competition promoting export innovation amongst regional small and medium enterprises.
The win means that EDS can use UK Trade & Investment (UKTI) overseas services to the value of £3,000 along with two UKTI grants for overseas travel to target markets.
EDS managing director Richard Bailey said: “We have two global products that are ideal for global markets. “Despite the huge budget cuts Governments face worldwide, they remain committed to tackling both terrorism and
global warming and the FloodSax ® and BlastSax® hit those two core markets.
The top three firms were among nine finalists who went head-to-head to pitch their export idea to an audience of influential business leaders and an expert judging panel at Harewood House near Leeds. The audience chose their top three using an electronic voting system before the judges – UKTI’s Mark Robson, HSBC’s Simon Bates, PwC’s Andrew Devonald, and Colin Glass from WGN – led a final round of questions to determine the overall winner.
Mark Robson, UKTI International Trade Director for Yorkshire and the Humber, said: “The standard of entries was incredibly high and the creativity and innovation of all
the ideas was fantastic. Exporting is
firms to sustain their business and grow which is why we urge all regional SMEs to take advantage of the support and opportunities out there.”
Arif Ahmad, PwC partner and head of private business in Yorkshire added: “We've been really impressed with energy, enthusiasm and ambition shown by all the finalists.
“With export growth being critical to the government's desire to rebalance the economy, these businesses have demonstrated that, with the right offering and focus, there are unlimited
opportunities that exist globally for their products and services."
Steve Wheatley commented: “The Committee are very supportive of schemes like this to install flood resistance measures to individual properties. It’s just a year since the first drop-in meeting was held to introduce the proposed scheme to the local community and it’s now a reality.”
“For schemes like this it is important to work with local people and it has greatly helped to have, working alongside us, the local flood group from the Gough Way Residents Association, who have been instrumental in the smooth implementation of the scheme. I am pleased that this hard work is continuing in the development of a local community flood plan, as it is vital that residents remain prepared for flooding and are able to respond to flood warnings given by the Environment Agency.” “I congratulate everyone involved for the successful completion of this scheme.”
20 local residents and guests, including Cambridgeshire County Councillor Ian Bates, both members of the Regional Flood and Coastal committee, attended the opening and were given demonstrations of the new flood protection measures installed in local properties.
A new flood insurance solution gets mixed views The Aims
A new insurance solution, Project Noah, is set to launch this Summer to help homeowners obtain insurance cover on flood risk properties.
What is Project Noah?
'Project Noah' is a new flood risk reinsurance pool created by broker and risk management firm Marsh UK and reinsurance intermediary service provider Guy Carpenter, together with the Landmark Information Group, who provide digital mapping and land data intelligence.
Project Noah claims that through it's modelling system, it can identify and calculate the flood risk of every residential property in the UK, which will enable a more targeted approach to flood defense investment.
The aim of Project Noah is to reduce the risk on insurers by allowing them to transfer their residential flood risk policies into the international reinsurance market. Insurers would pool their residential flood exposure across low and high-risk areas, limiting the scope for big payouts, and making the risk attractive to reinsurers for the first time. By reducing the flood risk element in household insurance policies, insurers will be able offer competitive and fairly priced cover, even to properties with a high flood risk.
Hutton Swinglehurst, head of flood risk for Marsh UK, said: "The provision of cost-effective home insurance for homes in areas exposed to flooding is a major challenge for the UK's
“We have tested Project Noah with some of the UK's largest insurers, as well as leading global reinsurers, who believe that this state-of-the-art model provides an innovative solution to an intractable problem."
“We have the capacity available and pledged by the reinsurance companies, and we believe we have a critical mass of leading insurers to get going.”
However, this week, British insurers cast doubt over the plan saying that it lacks industry support and will probably require taxpayer funding to work effectively.
The Association of British Insurers, who are currently in talks with the government about a rival pooling
scheme that would include a taxpayer guarantee, said that Project Noah, could still require funding from the public purse.
“We are not aware of an insurer who actually supports it, so we are sceptical.” said an ABI spokesperson
However, DEFRA, who will be spending nearly £2.2 billion on flood defences between 2011 and 2015, came out in favour and welcomed the Marsh scheme.
“Industry-led solutions that allow insurers to compete even for the highest-risk homes, without government intervention in the market, would give the best value for taxpayers' money,” a spokeswoman said.
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