Flooding
Flood investment shouldn’t be about ‘sticking a plaster’ in an emergency, ABI warns
The government needs to “take the politics out” of decisions about flood defences, the Association of British Insurers has said.
Blog: Government needs a plan of attack for flood defences
Phil Bird, pricing and underwriting director at Legal & General, argues the proceeds from the insurance premium tax rise must be spent on long-term strategy to protect home owners at risk of flooding
Cost to insurers from French floods could be €2bn
Damages from the floods affecting Paris and the surrounding areas could almost reach €2bn, one of the country’s biggest insurers has warned.
Quiz of the week - 03 June 2016
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Perils loss estimate for Storm Desmond falls by £65m
Catastrophe data firm Perils has revised its loss estimate from Storm Desmond down to £597m, from £662m in its last report.
Floods in Germany and France claim lives
Heavy storms and flash flooding have seen four people die in Germany and one in France as flood waters swept through the region.
Research: State of the Risk Management Nation: Part Three: Services
In the third part of this research, Michèle Bacchus asks the risk managers whether commodotisation is a concern and discusses the merits of the services offered by the insurance industry.
ABI: 85% of claims from floods caused by storms Desmond, Eva and Frank paid out
More than four out of five claims from the winter floods have been paid, with total damages expected to reach £1.3bn, according to the Association of British Insurers.
Flooding in Sri Lanka causes over £1bn in damage
Days of heavy rain has caused widespread disruption in Sri Lanka killing at least 92 people and displacing over 250,000 people.
Blog: Flood Re is a sticking plaster
Flood Re, the scheme launched in early April to provide affordable home insurance for flood-prone regions, has real limitations.
Biba 2016: Biba ‘on track’ to develop flood insurance scheme for SMEs
A scheme to provide flood cover for most businesses should be launched by autumn this year, the British Insurance Brokers’ Association CEO Steve White announced today (11 May).
Seven die in historic Texas floods
Historic flash floods around Houston in Texas have killed at least seven people and is likely to have caused damage costing hundreds of millions of dollars.
Windstorm postcode-level analysis tool launched by Emapsite
Emapsite, a data services provider, has launched a perils model allowing insurers to assess windstorm risk by postcode across the UK.
FCA SME claims review “sharpened” focus, but was not a major factor in industry response during 2015/16 floods
The insurance industry’s response to the winter flood in terms of SME commercial claims would have been hailed a success, even without the Financial Conduct Authority’s 2015 thematic review into this area.
Quiz of the week - 8 April
Test your knowledge of the week's insurance news with the Post insurance quiz of the week.
Covéa Insurance hails ‘fantastic progress’ as COR and GWP improve
Covéa's UK insurance arm reported an improved gross written premium of £473m (2014: £445m) and combined operating ratio of 96.9% (2014: 97.8%) in its 2015 results.
Ongoing losses forecast for Co-op Insurance as transformation continues
Co-operative Insurance expects 2016 to be another loss-making year due to continuing investment in its transformation programme, as the business this week reported a £66.1m statutory loss.
Co-op says impact of December floods causes £13m GI profit loss in 2015
The Co-operative group today posted a £13m profit loss for its general insurance division in 2015, marking a significant drop from £1m the previous year.
Blog: How well did the industry really handle commercial customers during the winter floods?
With Flood Re finally launching today (4 April) after securing regulatory approval - in blockbuster movie style with moments to spare - attention will once again turn to the commercial policyholders who are, for now, excluded.
South East, Yorkshire and Humber named among Flood Re hotspots
Flood Re expects policyholders in the South East of England, East England, North West England, Yorkshire and Humber, and London to be the biggest beneficiaries of the scheme that went live today (4 April).
Flood Re gets PRA and FCA authorisation
Regulators have confirmed Flood Re will be authorised from tomorrow ahead of the scheme’s 4 April start date.
Perils increases loss estimate for Storms Eva and Frank
Catastrophe data firm Perils has revised the loss to the property insurance market caused by Storms Eva and Frank to £578m from its initial estimate of £526m.
Penny Black's Social World - 24 March 2016
All the latest news from the world of social media
The Claims Process: Together again
Hammering down loss adjusters on fees proved a false economy for insurers as falling service standards merely wreaked more havoc on the industry’s reputation. But sense has prevailed and the two sectors are showing signs of a welcome reconciliation