Part 4

Flood insurance

Flood insurance obligations

Target number
71
1
The Secretary of State may, from time to time, by regulations prescribe a number to be a target number for the purposes of regulations under section 70.
2
A target number is the number of registered premises to be covered against a prescribed description of risk by insurance policies issued in a prescribed period by those relevant insurers upon whom obligations are imposed by regulations under section 70.
3
The regulations may prescribe different target numbers for different descriptions of risk.
4
The regulations may in particular provide for a target number to be expressed as a percentage of the number of registered premises.
5
The regulations may, at any one time, prescribe target numbers for two or more consecutive prescribed periods.
6
In this section “prescribed” means specified in or determined in accordance with regulations under this section.