Flooding
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Flood Re wins out as government and insurers reach long-term agreement
The government and insurance industry have reached a long-awaited agreement over the future of insurance for properties at risk of flooding when the Statement of Principles expires at the end of July.
Chancellor commits to new flood defence investment
The Chancellor of the Exchequer has vowed to invest in new flood defences, despite announcing that the Department for Environment, Food and Rural Affairs will see its budget cut by 10%.
Will it be smoke and mirrors with the flood defence spending?
As Chancellor, George Osborne, unveils his latest spending review today insurers will be seeking to find the amount of money committed to building new flood defences.
Groupama sees thousands of flood claims as France declared natural disaster zone
Groupama has received around 16 500 flood claims following devastating floods in southwest France.
Re-worked 'Flood Re' expected to be laid out in imminent Water Bill
Details of the Association of British Insurers’ long-awaited flood risk solution are expected to come into focus this week following a government spending review and the introduction of the Water Bill.
Flood deal appears close as Letwin headlines ABI conference
The Association of British Insurers has offered the biggest hint yet that an agreement on implementing its ‘Flood Re’ proposal is imminent, having confirmed that Oliver Letwin MP will deliver a keynote speech at its upcoming conference.
Market looks to politicians to overcome Dutch flood stalemate
The Dutch Minister of Infrastructure and Environment plans to intervene in the flood debate raging in the Netherlands in a bid to overcome the current stalemate.
German floods could cost insurers €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn, according to catastrophe modeller AIR.
German floods could cost insurers up to €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn according to AIR Worldwide.
RSA appoints CET for home emergency services
RSA has signed up claims specialist CET to provide home emergency services to customers.
Heavy rain death toll rises in India
Earlier than usual monsoon rain has killed at least 70 people in India, with the north of the country the worst hit.
Top 5 European stories
The top five European stories on www.insuranceinsight.com over the past seven days.
Talanx expects under €250m losses from European floods
German insurance giant Talanx has estimated its net loss from flood claims in Germany and neighboring countries at less than €250m.
Dutch insurance association rues "missed opportunity" on flood cover
The Dutch Association of Insurers has issued a stark warning on flood cover, after the Consumer & Market authority declared its proposed flood solution "violated competition law".
Competition watchdog says Dutch flood proposals are anti-competitive
The Netherlands’ Consumer & Market Authority has delivered a blow to plans to make flood coverage mandatory from January 2014, saying the proposals violate competition law.
Hannover Re flood loss may exceed €100m
German reinsurer Hannover Re said today its net loss from the recent flooding in Central Europe could exceed €100m.
Allianz expects €350m European flood hit
Allianz expects a net loss from the flooding in Central Europe to be approximately €350m, the German insurance giant said today.
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
Swiss Re warns of $44bn loss scenario from Chinese flood and storm surge
With its large economy and over half of its manufacturing centres exposed to flood risk, China represents a much bigger risk to insurers than Thailand, according to a new report from Swiss Re.
Dam bursts on River Elbe
23 000 people have been evacuated from the east German city of Magdeburg after a dam burst as the River Elbe overflowed.
Hundreds of SMEs hit by European floods
Hundreds of small and medium sized enterprises are likely to have been affected by the floods in Central Europe, according to claims management firm Crawford & Co.