Flood Re
UK floods to 'significantly weaken' 2015 earnings, says Fitch
Ratings agency Fitch said the impact from recent flooding in the UK could weaken earnings for some firms and take the year combined ratio above 100%.
Insurers warned flooding losses could exceed £1bn in wake of Eva
The insured losses from the 2015 flooding could exceed £1bn in the aftermath of storm Eva, endangering some firm’s end of year results, an industry expert has warned.
Review of the Year: Legal
For insurance lawyers, 2015 has been marked by the Medco portal going live in a sustained effort to reform whiplash claims. But the year has also seen major rulings regarding aggregation, costs and rates, all expected to have wide-ranging implications.
Blog: What insurers need to know about Flood Re and the flood levy
Flood Re is the new UK reinsurance vehicle, established to provide a pooling facility to insurers for flood risks they feel unable to retain in their portfolios.
83 postcodes affected as 32mm of rain predicted to fall
Loss adjuster Cunningham Lindsey has received storm and flood claims from more than 83 UK postcode areas, as more heavy rain and wind gusts are predicted for the Northwest today (9 December).
Insurance Debate: Ex-DLG and Flood Re boss Woolgrove says without licences insurance can't be a profession
Former Chartered Insurance Institute president Tom Woolgrove doesn't believe insurance will ever be viewed as a proper profession, primarily because anyone can call themselves an insurer without a proper qualification or licence.
Quiz of the week - 20 November
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Flood Re secures £1.29bn towards reinsurance target
Munich Re and Swiss Re are the leading reinsurers that have so far contributed to the £1.29bn yearly cover for the Flood Re scheme.
Flood Re one step closer with regulations signed
Flood coverage for high risk properties is one step closer today (11 November) with regulations for Flood Re coming into force.
Market Moves - 5 November 2015
All the latest movers and shakers in the insurance industry.
Ex-DLG and Flood Re boss Woolgrove moves to ‘challenger’ bank
Former Direct Line Group personal lines managing director Tom Woolgrove has taken on an interim role as deputy CEO for Oak North Bank, an SME-focused challenger to established high street brands.
State of the Insurer Nation Blog: Working in unison to combat insurance risks
Government and insurers need to cooperate against cyber crime as they already do against traditional risks.
Flood Re hires Bartholomeusz as CRO
Flood Re has appointed Michael Bartholomeusz as its chief risk officer responsible for the scheme's risk management framework.
Excluded properties remain contentious as Lords debate Flood Re regulations
Concerns around timing and excluded properties were raised by members of the House of Lords in debating the regulations to govern Flood Re yesterday (27 October).
ABI defends position on diverted profits tax after Insurer Nation criticism
The Association of British insurers has defended its actions on diverted profits tax after coming in from criticism from insurers.
Flood Re regulations moved to next stage at Westminster
Parliamentary scrutiny of Flood Re has been welcomed after the secondary legislation to make the scheme fully operational in time for its launch next year was considered by a House of Commons Delegated Committee yesterday (15 September).
UK flood risk map incorporates groundwater data
Flood risk consultancy Ambiental has added groundwater data to its UK map, claiming it improves the way insurers assess flood risk at the individual address/building level.
Flood Re starts ‘on-boarding' process
Flood Re has started its on-boarding process that will ensure those businesses wanting to participate in the scheme are ready to use it by April 2016.
Natural Catastrophes: Pool party
Insurers and governments are having to adapt to a world in which natural catastrophes are increasing in frequency and severity. It’s time for a new approach to nat cat.
Insurers advised to prioritise Flood Re access as April inception looms
Insurers run the risk of losing out to faster-moving rivals if they do not prioritise being able to access the Flood Re scheme ahead of its April 2016 inception.
Flood Re to launch £2.1bn reinsurance procurement
Flood Re is to begin the process to secure £2.1bn of reinsurance cover and is anticipating interest from Bermudian and US companies as well as collateralised reinsurers.
JBA Risk Management selected to model Flood Re risk
Flood modelling specialist JBA Risk Management has been commissioned by Flood Re broker Guy Carpenter to develop a probabilistic loss model for flooding in the UK.
Interview: Huw Evans: Climbing the ladder
Four months after his appointment as Association of British Insurers director general, Huw Evans tells Post his plans for the trade body and how he intends to make being a member worthwhile.
Disaster Response Forum 2015 – keynote speaker: Aidan Kerr
Aidan Kerr is the director of operations for Flood Re.