Live Insurance News

Homeowners insurance threatened for Scottish residents in flood-struck regions

January 2, 2013January 2, 2013 Julie Campbell

People in Scotland could lose their coverage after extensive flooding hit their areas. British insurers are cautioning that thousands of people living in Scotland may suddenly find that it is impossible to purchase homeowners insurance for their properties unless the U.K. government is willing to underwrite the claims. At the moment, one in every 22 Scottish residential properties is at a flooding risk. According to data that has been released by the Scottish Environmental Protection Agency (SEPA), there are 125,000 properties in the country that could lose their ability to…

Insurance news in Scotland looks rough for victims of floods

November 26, 2012November 24, 2012 Julie Campbell

More families could be left without homeowners coverage after another week of flooding. The latest insurance news from Scotland has shown that the industry and the country’s government are struggling to come up with a deal that will cover the risk of flooding for many homeowners across the country, which could mean that a larger number of households will lose their coverage. The homes that are located within areas of a heightened risk of flooding are currently protected. That protection comes in the form of an agreement which has been…