Flooding
China floods to have “limited impact” on insurers
The worst floods witnessed in China for more than a decade are unlikely to have a significant impact on the insurance industry, Guy Carpenter has claimed.
Aon Benfield annual cat report reveals $38bn loss for (re)insurers in 2010
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide during 2010.
Post Europe: View from the Top: Europe’s changing flood risks
In a recent survey nearly a third of European risk managers said extreme weather had caused disruption to their organisations in the past year, making it the most likely reason for a business stoppage.
JLT boss draws parallels between terrorism and flood insurance
The Government’s £200m cuts on flood defences could have a catastrophic effect on the commercial property market by making flood insurance unavailable.
Aon Benfield estimates £1.2bn snow losses
The recent adverse weather across Europe has caused an “economic loss” of £1.2bn in Britain alone, according to an estimate from Aon Benfield.
Axa: homeowners in flood risk areas are underpaying for insurance by 58%
Household insurance for homes in high flood risk regions is being subsidised by £511 each year, according to Axa. This means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding.
Defra unveils 'payment for outcomes' flood scheme
Dealing with flood management in the "narrow sense of government funding" is "unimaginative and ineffective", according to the minister charged with its responsibility.
Swiss Re: insured losses up 34% to $36bn in 2010
According to initial estimates from Swiss Re’s sigma team, worldwide economic losses from natural catastrophes and man-made disasters were $222bn in 2010, more than triple the 2009 figure of $63bn.
Cunningham Lindsey handling 90 claims from flooding in Cornwall
Cunningham Lindsey has confirmed it is handling 90 claims following the floods in Cornwall earlier this month, with estimated total losses expected to reach up to £5 m.
Loss adjuster: surge status on amber after snowfalls
Loss adjusting group GAB Robins has revealed that its surge status remains on Amber.
ABI: cost of flood damage has tripled since year 2000
The cost of flood damage since 2000 has soared by 200% compared with the previous decade, with yet more people set to be at significant risk of flooding, according to the Association of British Insurers.
Cumbrian floods - Lessons learned: A timely reminder
A year on from Cockermouth and the UK faced another major flooding incident, in Cornwall. Jim Pittman examines how the industry coped in Cumbria and asks what lessons have been learned for dealing with extreme weather.
ABI figures reveal insurer flood bill has rocketed 200% to £4.5bn
Figures published today by the Association of British Insurers show that the cost of flood damage since 2000 has leapt by 200% on the previous decade.
CILA praises industry flood response
The Chartered Institute of Loss Adjusters has praised its members’ response to the Cumbria floods of 2009, one year on.
Aviva hands out emergency payments for Cornwall floods
Claims experts and loss adjusters have begun visiting homes and businesses affected by the floods in Cornwall, according to Aviva
Cumbria “better prepared” following £276m floods
Communities and businesses in Cumbria have taken steps to better prepare for floods following the events of last year, research from the Environment Agency has revealed.
View from the top: Accentuate the positive
Simply put, the public doesn't trust insurers. The industry has to improve the way it handles claims to overcome its bad image.
Comment - flooding: Passing the buck on floods
There is demonstrable lack of interest on all sides when it comes to improving buildings' flood defences and risk profiles. The industry, government and homeowners all need to work together, argues David Walker.
Industry bodies heartened by private sector potential
The Association of British Insurers and British Insurance Brokers' Association have welcomed the prospect of greater private sector investment in flood defences following the government's decision to cut the budget.
ABI offers flood advice to households
The Association of British Insurers has issued advice to people who have been flooded following heavy rainfall in Cornwall.
Cornwall hit by severe flooding
Parts of Cornwall have been hit by flooding after a night of heavy rain and wind.
Claims for storm and flood damage on the up following bad weather
After 24 hours of wild weather which included wind speeds of up to 90mph in areas of the North west, GAB Robins said it is receiving a number of claims for storm and flood damage.