Flooding
Unrated Icelandic insurer’s flood risk venture sparks passporting debate
Broker looks to fill gap left by Statement of Principles indecision
Perils provides data for Italian earthquake and flood
Independent catastrophe data provider Perils has extended its coverage to include data for Italian earthquake and flood perils.
89% of young professionals underinsured: L&G
Nine in 10 18-27 year old professionals would be unable to replace their belongings after a fire flood, even where they have insurance, according to L&G.
Thai catastrophe fund has underwritten 800 000 policies
The Thai National Catastrophe Insurance Fund has provided over 800 000 policies over the last year after it was set-up following the Thai floods in 2011.
AA: SoP extension is not good enough
An extension of the Statement of Principles is not a satisfactory solution to flood insurance even on a temporary basis, Simon Douglas, director of AA Insurance has said.
Your say: The warm weather is a damb squib
A slight rise in temperature and drier conditions has done little to ease pressure on claims staff who continue to deal with large numbers of claims flowing from the heavy rainfalls of 2012.
Axa: lack of flood deal could ruin housing market
Hundreds of thousands of homes will be “unsellable” unless the government secures a deal on flood insurance, Paul Evans, chief executive at Axa UK, told The Independent on Sunday.
Flood: A Dutch Obligation
For the first time in decades Dutch citizens can purchase flood insurance but should the product be compulsory? Francesca Nyman explains.
Leader: A fresh start
So, spring has sprung; daffodils are in bloom, chicks and lambs are being born and even the insurance industry is seeing some stirrings of green shoots – even if the weather doesn’t quite agree.
Insurers refuse to back government plan to extend Statement of Principles
Insurers have declared they are unwilling to green-light a temporary extension to the Statement of Principles unless the government provides “a definite commitment” that a long-term flood risk solution is imminent, after Environment Secretary Owen…
Floods devastate Argentina's capital
Flash flooding in Argentina has claimed more than 50 lives and halted production at the country’s largest oil refinery.
The Thai flood: Two years on
The size and scale of the floods in Thailand in 2011 came as a shock to many despite the fact it was a flood prone area. Andrew Tjaardstra discovers how shock waves are still being felt and how risks are being reassessed.
Hostile ABI response to ‘inferior’ Flood Mu model sparks wider debate
The Association of British Insurers’ attempts to derail a proposal put forward by Marsh to secure a mutualised solution to flood risk have been criticised by politicians and industry insiders.
Bought by Many seeks insurer partner for flood cover plan
Insurance intermediary Bought by Many has launched a home insurance proposition for areas at significant risk of flooding.
Need for robust flood solution 'more urgent than ever' says AA
Finding a way to ensure continuing insurance cover for homes at risk of flooding is ‘more urgent than ever’ according to the AA.
Paterson refuses to 'rush through' flood risk solution, as SoP expiry looms
Environment secretary Owen Paterson has claimed there is “no point rushing through” a long-term flood risk solution, despite there being just three months until the Statement of Principles expires.
ABI brands Marsh's Flood Mu model 'completely unacceptable'
The Association of British Insurers has issued a damning response to Marsh’s proposal for a mutulised solution to flooding, describing the ‘Flood Mu’ model as “completely unacceptable to insurers”.
Marsh's new 'Flood Mu' model tipped as likely SoP replacement
A mutualised solution to flood risk has been tipped as the new favourite to replace the Statement of Principles this summer, however a free market could be introduced while legislation is drawn up ahead of the model’s launch.
View from the Top: Time is running out
With agreement on the future of flood insurance still out of reach, the government must pick up the pace, says Bronek Masojada.
Biba and Marsh to join the flood debate at Efra evidence session
The British Insurance Brokers’ Association and Marsh have been invited to give evidence at tomorrow’s Environment, Food and Rural Affairs Committee meeting on flood insurance provision, after a previous evidence session was adjourned.
Government slashes flood-defence funding further
The government has cut the budget for maintaining flood defences and clearing rivers from £68m to £39m, flooding Minister Richard Benyon revealed in a parliamentary written answer.
Flood Risk: Pours for thought
The 2007 floods were a major UK weather event, costing the insurance industry billions. However, despite similarities, the 2012 floods caused much less damage. What is the reason behind the change?