Flood risk threatens home insurers

Story link: Flood risk threatens home insurers

Insurance companies are laying into developers, warning that the best interests of property buyers are not being looked after as planning officials continue to allow building developments on flood plains.

Astonishingly, as many as 1 in 6 homes in the UK is at risk of flooding, which is a stagger figure:

Floods could cost £4bn per year by 2035

Home insurance firms are set to lose £4 billion a year by 2035 on repairing flood water damage unless the industry takes the lead in creating a flood prevention strategy.

Insurance companies should work with the Environment Agency and local authorities on putting flood prevention measures in place and making homes flood proof, Co-operative Financial Services said.

This is certainly a different tact that insurance companies normally make, usually looking to push discounts onto consumers in order to get them to buy.

Perhaps there is a discontinuity between the sales teams and risk assessment teams? :)

Government ‘flooded’ with requests for help

Story link: Government ‘flooded’ with requests for help

The government is helping the unemployed, they are helping banks that do not sign any sign of stability in the near future and they are helping struggling businesses throughout the UK, but what are they doing for flood victims?

Some flood victims have found them selves homeless over the last few weeks, and should be classed as a priority!

Government ‘flooded’ with requests for help

In a forthright attack, insurance boss Stephen Haddrill criticises the Government for failing to tackle the floods threat

Fostering good relations with the Government should be second nature for Stephen Haddrill, director-general of the Association of British Insurers. As a former civil servant at the Department of Trade and Industry, relations between the insurance industry and Whitehall should be cosy.

Get ready for more bad weather

Story link: Get ready for more bad weather

Home Insurance companies and weather analysts throughout the UK are warning home insurance customers to brace themselves for the possibility of more bad weather.

Even if we do not see any bad weather for a while, it would be worth protecting our homes for when it does hit in the future.

Get ready for more bad weather

Home insurance customers are being urged to remain vigilant in the face of more bad weather.

Moneysupermarket.com has warned householders a second week of poor conditions means some people may have to deal with the threat of flooding.