Over the past six months I have become increasingly aware of the Current Insurance Crisis that is affecting small and medium-sized businesses and consumers in my constituency.

Over the past six months I have become increasingly aware of the current Insurance Crisis that is affecting small and medium-sized businesses and consumers in my constituency.

The compensation culture, which we are rapidly importing from the United States of America - although so far without the monstrous damages that the American juries see fit to award - is a major cause of the Insurance Crisis.

I agree with my hon. Friend that we could end up back in this Chamber in a year's time with an Insurance Crisis on our hands as those companies back further away.

One has to recognise that it cannot be wholly statutory, but there is a Crisis of Insurance in relation to flooding.