Flooding
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?
Improving Underwriting: Driving Profits
Can a more sophisticated approach to underwriting help motor insurers finally turn a profit?
Improving Underwriting: The extra mile
The use of geographic intelligence can improve the understanding of risk in the motor insurance space.
APPG meeting postponed after Benyon cancels as speaker
The All-Party Parliamentary Group for Insurance and Financial Services' meeting scheduled for tomorrow (12 March) has been cancelled after environment undersecretary Richard Benyon withdrew as its speaker.
Zurich unveils Red Cross flood alliance
Zurich Insurance Group has formed a CHF 21m five-year alliance with the International Federation of Red Cross and Red Crescent Societies.
Zurich announces Red Cross alliance in flood resilience programme
Zurich has announced a CHF21m deal with the International Federation of Red Cross and Red Crescent Societies that will see the pair work to improve disaster risk reduction efforts.
Improving Underwriting: A Smarter approach
Insurers can build a more sophisticated view of risk by embracing geographic intelligence data.
View from the Top: There may be trouble ahead
A catalogue of natural disasters in recent times have been pushing our industry’s bottle to the brink, says Peter Hubbard.
Improving Underwriting: Adding some colour
Larger amounts of more detailed data are available to insurers but can they create a balance between profitability and fair rates?
Lloyd's coverholder steps into Netherlands flood void
Lloyd’s coverholder Neerlandse has begun offering flood insurance to homeowners in the Netherlands.
Thousands evacuate homes in Jakarta
As the rainy season nears its end, there is more flood misery for residents of Jakarta this week.
Jakarta braces for more floods
Emergency authorities in Jakarta are preparing for more flooding as water reached very high levels at a major dam.
Australian government provides AUS$100m for flood prevention
The general insurance industry has welcomed an announcement from Prime Minister Julia Gillard, Financial Services Minister Bill Shorten and Attorney General Mark Dreyfus for AUS$100m of funding over two years for flood mitigation projects.
AIR Worldwide issues Cyclone Rusty update
Cyclone Rusty makes landfall but so far there has been little damage, although flooding is expected, according to catastrophe modeling firm AIR Worldwide.
Iron ore ports close as Cyclone Rusty closes in on Australia
Cyclone Rusty is expected to bring a huge amount of rain to north west Australia and has already caused iron ore companies and ports to close.
Torrance praises Allianz "discipline" in commercial lines
Allianz has attributed its success in commercial lines to a “disciplined approach” in risk assessment and pricing.
Bought by Many to unveil flood insurance solution
Insurance intermediary Bought by Many told Post it will be launching a solution for home insurance in flood risk areas in the next few weeks.