That is a much better proposition than telling someone in a property built in 2010, “Flood Re is not for you.” If it is to be a solution to the difficulties of insurance, as many properties as possible should be covered. That includes what are termed “genuinely uninsurable” properties. They are excluded as well, yet they might be occupied or habitable properties with a council tax rating. Why are we not to include them? In my judgment, their number is not so considerable as to make the scheme impossible to operate. As the Minister knows, the all-party group made that representation to him during the consultation, and we hope he will take it on board as he considers his amendments in Committee.
I already know of one area where the Minister has accepted our recommendation. We suggested giving regulatory responsibility to the Financial Conduct Authority, and that is now in the Bill. The all-party group welcomes that inclusion, but hopes that the Minister will give further consideration to the other points we have made in support of what in our judgment is a proper solution to a difficulty that has taken too long to resolve.
8.46 pm