Flooding
Flood Re changes 'arbitrary' claims BPF
Changes to include blocks of three or fewer flats into Flood Re are “arbitrary” and “difficult to understand” according to the British Property Federation.
C-Suite - Insurer: A pat on the back for claims teams
The insurance industry should be proud of its handling of the UK’s wettest winter on record.
In Series: Data: Waves of understanding
Data can help insurers assess future storm and flood risks, providing benefits across the business and enhancing modelling processes.
Eric-insured flood victim denied payout
A Wiltshire flood victim has been denied an insurance payout because the policy was underwritten by unlicensed Icelandic insurer European Risk Insurance Company.
IRM criticises government's 'fingers crossed' approach to risk management
The recent flooding episode has highlighted shortcomings in the government’s approach to risk events according to chairman of the Institute of Risk Management, Richard Anderson.
Insurers face £1.1bn floods and storm bill says ABI
Claims for flooding and storm damage this winter will see insurers pay out £1.1bn according to figures from the Association of British Insurers.
C-Suite - Insurer: Flood Re is a PR time bomb
Flood insurance must be all-inclusive, for the sake of both UK homes and the industry’s image.
Household: On steady ground?
How is the household insurance market coping with the cost of claims from extreme weather events and the aggregator‑induced focus on pricing?
International: Asia: Living with disasters
The insurance community is playing an increasingly important role in helping vulnerable communities in Asia adapt to climate change both before and after a disaster.
Co-op Insurance to offer help for flood victims
Co-operative Insurance has launched a package of measures to help customers that have been impacted by the recent floods including advice on home repairs.
L&G under no pressure to raise property rates, claims GI boss
L&G general insurance director Mark Holweger claims his firm’s positive 2013 results has reduced the likelihood of increasing property rates over the coming year.
L&G GI business trims 2013 COR to 84% but flood losses loom
Legal & General’s general insurance business recorded an improved combined operating ratio for 2013 of 84% (2012: 95%), while premiums were up 7% to £375m.
Cunningham Lindsey network halving drying times
Cunningham Lindsey’s managed contractor network Oriel has seen times for drying flood affected properties halved in pilot trials.
C-Suite - Insurer: Flooding issue will not drain away
Extreme weather is here to stay – the industry must adopt long-term measures to reduce property damage.
In Series: Data: A smarter approach to flood risk
How can the industry use increasingly sophisticated data to assess flood risk more accurately?
UK storm and flood losses manageable for insurers says Fitch
The losses relating to the 2013/2014 winter floods and storms will be manageable for UK non-life insurers, according to a report by Fitch Ratings
First quarter weather claims could be highest for 20 years says Deloitte
The storms and heavy rain in the first two months of this year may result in the highest number of first-quarter claims since the storms of 1990, according to Deloitte insurance partner James Rakow.
Most flooded homes now accessible says GAB
The majority of homes flooded since Christmas are now accessible to adjusters according to GAB Robins.
DLG boss Geddes admits 2014 COR expectation is weather dependent
Direct Line Group chief executive Paul Geddes has conceded hopes of achieving a combined operating ratio of between 95% and 97% for 2014 will hinge on the weather improving for the remainder of the year.
Insurers reject campaign to include previous premiums on renewal letters
Swiftcover is only firm in Which? survey to inform customers of last year’s price.
Editor's comment: Pressing the advantage home
Prime Minister David Cameron told the nation “money is no object” when he declared the recent floods a national emergency and staked his personal authority on rebuilding damaged UK regions to make them more resilient to extreme weather.
Insurers doubtful government will approve VAT waiver for flood repairs
Business secretary calls for VAT on flood renovation and repairs to be cut to 5%.
Guy Carpenter unveils satellite catastrophe evaluation
Reinsurance broker Guy Carpenter has launched a new satellite-based catastrophe evaluation service, GC CAT-VIEWSM.
Trade Voice: Flooding: the rules of engagement
The recent industry chief executive roundtable with ministers served as a reminder of how critical the role of insurance is to government and society in dealing with the problems caused by the ongoing flooding.