The European Union is having its worst flood coverage in the world, according to a new report.
It says it has seen a fall in coverage from the US and Europe as a whole in the last six months, and warns that the UK could be heading towards a similar situation.
In a separate report, the UK National Insurance Institute said that it expects to see an overall drop in flood coverage by 2019, although that could be offset by an increase in premiums from people who are paying their premiums.
The report said that the most expensive areas in England and Wales have seen a rise in flood insurance premiums, with the cost of flood insurance in the South-East of England at the highest level in the country.
The biggest increase in flood cover is in the North-East, with premiums up by 10 per cent, and the biggest drop is in Scotland, where flood cover has fallen by 10.5 per cent.
It comes after the government said that a new flood insurance policy was due to go on sale to the public in 2018.
The National Insurance Agency said that more than 100 million people across the UK were insured for flood damage and that the policy had been “tested” and found to be “effective” in protecting the public.
The government said the policy was not subject to an independent review by the Financial Conduct Authority.