Warning of rise in home insurance premiums after floods
Business advisory firm Deloitte has warned that the recent floods across the UK could tip insurers into losses and force premiums higher for policyholders.
The statement came as the Environment Agency issued 47 flood warnings and alerts across England and Wales. Currently there are five flood warnings where flooding is expected and immediate action is required.
In addition the agency has issued 42 flood alerts where flooding is possible and people are advised to be prepared.
Ian Clark, insurance partner at Deloitte, commented: "Previous experience has shown that wide-scale flooding has a significant impact on the level of claims borne by insurance
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