Insured losses from the July flood are likely to be between £1bn and £1.5bn, with the estimated cost of the 25 June flood ranging from £1.25bn to £1.75bn. These figures could be higher than many insurers expected, based on their initial estimates of the risk.
RMS analysis of the more than 1,000 affected postcodes indicated that almost 70% of the areas impacted by the July floods were in areas considered to be off the major river floodplains.
“Many insurers assess their flood risk exposure ba
- Tasker Insurance names Robert Organ as new CEO
- ASA reveals insurance advertising complaints
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Bennett Christmas buys Horsham-based Slade Edwards Insurance
- Confused.com sees profits halve for start of 2017
- Bollington's Paul Moors hails "excellent" results for 2016
- Staysure snaps up travel rival Avanti