UK homeowners insurance market may see its profitability streak end in 2015

UK Flood homeowners insurance program

Natural disasters are taking a heavy toll on homeowners insurance companies in the United Kingdom The cost of homeowners insurance may be falling in the United Kingdom, and this could be bad news for insurance companies. Insurers in the UK have been profitable since 2007, but increasingly frequent natural disasters, particularly floods, are beginning to place insurance companies under significant financial pressure. In 2007, floods alone cost the insurance industry more than $1.5 billion in losses. By next year, the costs that insurance companies see are expected to surpass the…

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