Flooding
BPF urges MPs to support Water Bill amendments
The British Property Federation is urging politicians to support Water Bill amendments being tabled in the House of Lords that would extend affordable flood insurance to excluded groups.
PM vows to use £100m Defra fund to improve flood defences
David Cameron has described Environment Agency chairman Lord Smith’s assertion that decisions must be made on whether to prioritise town or country as a “false choice” and has pledged an additional £100m on flood defences.
Household premiums tipped to rise as adverse weather takes hold
Property premiums could be set to rise in 2014 as mounting flood losses begin to take their toll on insurers, according to Deloitte insurance partner James Rakow.
Indonesian insurers to shrug off floods, says Fitch
Fitch Ratings has said the January flooding in Singapore is likely to have limited impact on the local insurance market.
High-net-worth insurers fight Flood Re exclusion of highest council tax bands
Properties in band H will not be covered but insurers still have to pay levy
Flood losses not expected to arrest premium decline, claims Moody's
Widespread flooding over the Christmas period is unlikely to reverse the decline in property insurance premiums, despite the impact of the adverse weather conditions negatively affecting insurer’s earnings, according to Moody’s.
Windstorm Dirk losses estimated at €275m
Storms which rampaged across the UK and France from 23 December to 25 December are to cost insurers €275m, according to data from Perils.
Difficult decisions ahead on flood defence funding, admits EA chair
The chairman of the Environment Agency has conceded there is “no bottomless purse” for flood defence spending and that decisions must be made on whether to prioritise town or country.
Europe: Weathering the storm
Europe got a battering from natural catastrophes in 2013, resulting in the region clocking up the most loss events for the year across the globe.
Private sector contributes 25% of flood defence partnership funding
Private sector funding has generated £37m for flood defences according to a report from the Guardian.
Oasis project director says framework will cut costs and increase transparency
Loss-modelling platform includes models for flood, earthquake and tsunami.
Aon Benfield or Guy Carpenter tipped to take on Flood Re reinsurance role
Scheme’s organisers say summer 2015 implementation target will be met.
Agriculture: Hard times
With a predicted increase in extreme weather events expected to add to the many difficulties already faced by farmers, how can the insurance industry better support the beleaguered sector?
Industry facing £426m bill for Christmas floods
The insurance bill for storm and flood damage over the 2013 Christmas and New Year period will cost the industry around £426m, according to the Association of British Insurers.
BPF brands ABI Flood Re claims ‘misleading’
Claims from the Association of British Insurers that the Government’s new flood insurance scheme, Flood Re “will cover domestic properties regardless of whether leasehold or freehold”, have been branded misleading by the British Property Federation.
Floods in Indonesia cause havoc
Over the last two weeks, floods and landslides have continued in Indonesia including the capital Jakarta, Java, Sumatra, Sulawesi and the Kalimantan Islands.
Flood Re will cover domestic properties, ABI says
The Association of British Insurers has responded to claims from the property sector that Flood Re will exclude millions of homes by confirming the scheme will cover domestic properties regardless of whether they are freehold or leasehold.
Property industry predicts millions will be excluded from Flood Re
Property industry leaders and the Council of Mortgage Lenders have said exclusions to Flood Re will leave millions of homes without access to flood insurance despite assurances from the Association of British Insurers that no more than 10 000 properties…
Post Intelligence docu-video: Is Flood Re the right insurance solution?
The bad weather over Christmas and the new year has really thrown the issue of Flood Re back into the spotlight.
ABI downplays Flood Re delays
The ABI has played down suggestions that Flood Re will miss its summer 2015 deadline, claiming it is making “good progress” with preparations for the scheme.
Flood Re could miss 2015 start date
Delays to the Flood Re programme mean the long-awaited scheme may struggle to meet its summer 2015 launch date, according to reports.
Biba manifesto sparks hope the burden of regulatory cost will be addressed
FCA urged to find areas for savings and be more transparent.
Your say: Recent deluge could open the floodgates on asbestos risk
The recent floods that have devastated many parts of the UK could have unexpected consequences by increasing the risk of asbestos exposure.