Aon petitions Mayor of London on flood defences

by Gill Montia

Story link: Aon petitions Mayor of London on flood defences

Aon is reminding the new Mayor of London, Boris Johnson, that he is ultimately responsible for ensuring the capital is safe from flood.

The broker and risk analyst has paired up with the City Property Association, which represents the interests of owners and occupiers of property in the City, to call on Mr Johnson to publish plans for preventing a major flood.

The Square Mile is not regarded as one of London’s high flood risk areas, however its transport links run through areas south of the Thames that are regarded as high risk.

Predictions of another summer of heavy rainfall have raised fears that the disruption of transport systems could bring the City to a halt.

In addition, Aon is proposing that the lack of a clear plan will result in a rise flood insurance premiums across the capital.

Currently, leading insurers have agreed to continue to cover property in areas of high flood risk in return for the Government’s prompt and well financed action on flood defences.

Part of Mr Johnson’s role will be to work with the Government to ensure that London’s flood defences receive sufficient investment.

Bill Gloyn, head of real estate Europe at Aon mergers and acquisitions and president of the City Property Association, is cautions that the new mayor may become absorbed by issues such as crime, affordable housing and the environment.

However, a major flood in the capital could be disastrous for thousands of households and businesses alike.

In terms of the City, those with long memories will be reminded of the links between the 1987 hurricane and Black Monday.