Flooding
Swedish flood claims more than double in 2014
Sweden’s insurers face a heavy hit from natural catastrophe claims, as the number of flood damage claims lodged reaches more than double the previous year’s total.
ABI defers decision on Flood Re participation for independent Scotland
The Association of British Insurers has refused to rule out the possibility of an independent Scotland being excluded from the insurance industry backed Flood Re scheme.
Flood Re exclusion a possibility for independent Scotland
An independent Scotland could be faced with the prospect of identifying an alternative to the Flood Re scheme established between the UK government and the Association of British Insurers, according to research carried out by Standard & Poor’s.
Nuclear power shutdown in South Korea after heavy rain
For the first time ever, a nuclear power plant was forced to close in South Korea, after heavy rain.
Investment of £165m reduces flood risk for 6700 Welsh properties
Multimillion pound investment in resources to reduce the flood risk to thousands of homes in Wales since November 2011 has led to a reduced risk for approximately 6700 properties.
Europe: Climate change modelling
The question of whether climate change is driving an increase in the severity of weather events is a key concern for insurers. How can modelling systems keep up?
Ecclesiastical turns underwriting profit for first time in five years
Ecclesiastical recorded a reduced a pre-tax profit of £18.4m for the first half of the year (H1 2013: £24.4m) despite achieving an underwriting profit for the first time since 2009.
Blog: Learning from history - Boscastle, 10 years on
With its narrow valley and picture postcard scene, the devastation which struck the small hamlet of Boscastle on 16 August 2004 illustrated like no other event the damage our climate can do. So ten years on, what have we learned?
H1 weather claims hit insurers for £845m
Weather damage claims have cost insurers £845m across the first half of 2014 according to figures from the Association of British Insurers.
Amlin profits slide in H1 as large catastrophe losses grow
Lloyd’s insurer Amlin chalked up a reduced profit before tax of £148.5m in the first half of 2014 (H1 2013: £161.4m) as an uptick in large catastrophe losses took its toll.
Allianz recovers from weather dent as it hails 46th quarter of profitable growth
Allianz Insurance chief executive officer Jon Dye said the firm was ‘very close’ to where it hoped to be at the half-year stage, after it reported its 46th consecutive quarter of profitable growth.
Zurich UK off-sets £35m Q1 flood losses as attritional loss ratio improves
Zurich UK general insurance interim chief executive Dave Smith has heralded an improved attritional loss ratio as an instrument of off-setting £60m of flood losses and long-tail liability costs incurred in the first half of the year.
Zurich unscathed by winter floods as UK H1 profits rise 9%
Zurich has trimmed three percentage points off its UK combined operating ratio over the past 12 months to 95% (H1 2013: 98%), while increasing business operating profit by 9% to £88m in the first half of 2014.
Flood Re cap will not limit scheme's ability to pay out, claims ABI
The Association of British Insurers has criticised ratings agency Moody's for its report on the regulatory arrangements for Flood Re saying its £100m cap will have no impact on the scheme's ability to pay flood claims to insurers.
Video: Claims edition – Flood Re
Flood Re, the replacement for the Statement of Principles – which was the government’s agreement with the insurance industry to ensure affordable flood insurance is available to households – is due to be introduced in the summer of 2015.
ABI critical of draft Flood Re finance rules
The Association of British Insurers has deemed the draft rules on the financial management of Flood Re "unworkable" following the launch of a consultation on the scheme's regulations.
McCafferty ‘outstanding candidate' for Flood Re role, claims Woolgrove
Interim Flood Re chief executive Tom Woolgrove says newly appointed permanent CEO Brendan McCafferty has a unique set of skills to get the scheme across the line.
Paymentshield's McCafferty appointed Flood Re boss
Paymentshield commercial director Brendan McCafferty has been appointed Flood Re chief executive and will take up the role in Q4 2014.
Environment secretary Owen Paterson ‘sacked’
Incumbent environment secretary Owen Paterson will depart the cabinet as part of a reshuffle being announced today, according to reports.
Trade bodies agree to further Flood Re exclusions talks
The Association of British Insurers and the British Insurance Brokers' Association have agreed to ongoing discussions around customers excluded from Flood Re.
Insurers seek clarity over tangible returns from infrastructure investment
ABI looks to secure 20-year investment partnership with government
ABI outlines Flood Re SME exclusion stance at Defra meeting
The Association of British Insurers reiterated its view there is no evidence SMEs have a problem accessing affordable flood cover at a meeting between government and representative organisations yesterday.
Flooding: The future of flooding
As the Statement of Principles nears expiry and with the imminent introduction of Flood Re, what does the future hold for flood cover?
Comment: Health hazards post-flooding
The health impact of mould and bacteria after a flood event are generally overlooked