Tag: uk flood insurance

Flood insurance deal not reached between ABI and UK government

Flood Insurance

The Environment Secretary has expressed the “disappointment” that he feels at the failure to come together. Owen Paterson, Environment Secretary in the U.K. has revealed that he is feeling “disappointment” as a result of the failure of the Association of British Insurers (ABI) and the British government to reach a deal for a flood insurance program that would protect homes and businesses in high risk areas. The two organizations have been in talks over a new coverage strategy for many weeks as the deadline looms. The discussions have been with…

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Flood insurance gaining more attention in UK

Nordstrom
Flood Insurance

Storms again thrust flood insurance into the limelight British insurance companies continue to clash with the government as floods throughout the United Kingdom continue to draw attention to the need for a comprehensive flood insurance plan. Insurers have been backing the Flood Re program for the some, which aims to provide coverage for some 200,000 consumers that could lose coverage if the insurance agreement currently in place is allowed to expire. Flood Re is meant to replace this agreement, but the government continues to show concern over the financial prospects…

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Flood Re plan find difficulty in the UK

Dan
UK Flood homeowners Insurance companies Flood Re Plan

Flood Re aims to replace existing flood insurance subsidy A flood insurance plan in the United Kingdom is in threat of falling through because of the government’s refusal to provide a financial backstop. The plan, called Flood Re, is meant to provide flood insurance coverage to homes and properties in high risk areas in the UK. The plan is meant to replace a subsidy that provides flood insurance coverage to consumers in high risk areas, which is scheduled to expire in July 2012. If the subsidy expires, more than 200,000…

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Homeowners insurance companies urge U.K. residents to buy coverage for flooding

H. Cutner
Flood Insurance and reinsurance

Flood policies may become vital as flood alerts and warnings are issued across the country. The warnings and alerts regarding the risk of flooding across the United Kingdom has caused homeowners insurance companies to caution property owners that separate coverage for floods is required in order to protect them against rising waters from the rains that have been lashing several regions. They are being told to go over their policies and make sure that there won’t be any unwanted surprises. For those who do have flood protection added to their…

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Many U.K. homeowners may not be able to obtain flood insurance by 2014

H. Cutner

The Association of British Insurers (ABI) has made an announcement that indicates that approximately 200,000 homes throughout the United Kingdom that are at a high risk of flooding might not be able to obtain flood insurance coverage beyond 2014. This announcement came close on the heels of widespread predictions that the government may not be able to come up with the necessary funds for building the required flood-control infrastructure, despite the fact that climate change is causing water and sea levels to continually rise. Some have suggested that many homeowners…

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