Flooding
SoP talks “at an advanced stage”
Talks between insurers and the government to find a replacement for the Statement of Principles are “at an advanced stage” according to a government minister.
ABI responds to Scottish criticism of 'disproportionate' Flood Re
The Association of British Insurers has denied accusations that the introduction of its ‘Flood Re’ model would be “bad news for Scotland”.
Flood clauses to be added to Water Bill as minister hints at ABI agreement
Environment minister Richard Benyon has suggested that additional clauses will be inserted into the government’s upcoming Water Bill, in order to serve as a legislative vehicle for the implementation of the Association of British Insurers’ ‘Flood Re’…
Editor's comment: Time for a new strategy
Last week some new battle lines were drawn, while others pulled back their troops, took stock of the situation and dug new trenches.
Scots disproportionately affected by new flood plan
The Scottish Parliament has been challenged to secure a greater voice in the UK flood debate following concerns the Association of British Insurers' Flood Re model represents a raw deal for residents north of the border.
Aon Benfield launches cat model to quantify uncertainties
Reinsurance broker Aon Benfield has unveiled updated catastrophe tools to allow clients to better understand their exposures in spite of less complete information.
Apac climate report highlights typhoons, droughts and air pollution
The Guy Carpenter Asia-Pacific Climate Impact Centre today released its annual report focusing on typhoon activity, the seasonal prediction of extreme droughts and floods, and the impact of local air pollution on climate.
BPF welcomes extension of flood agreement
The British Property Federation has welcomed the insurance industry’s decision to continue to offer flood insurance cover for a month beyond the end of the current agreement with the government.
ABI agrees UK flood cover extension
The Association of British Insurers today confirmed to the government that they will continue to voluntarily meet their commitments to offering flood insurance for an extra month after the Statement of Principles expires on 30 June.
ABI pushes Flood Re proposal as SoP extended
The Statement of Principles has been extended by one extra month while discussions over the long term solution for flood risk cover between the insurance industry and government continue.
Flood: A Dutch Obligation
For the first time in decades Dutch citizens can purchase flood insurance but should the product be compulsory?
Floods affect over 1m in China
Floods in the provinces of Jiangxi, Anhui and Hunan in China have killed six people and impacted 33 000 hectares of crops.
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.