Floods may cause 50% home insurance premium spike
Mohammad Khan, insurance partner, PwC, explained: "Following the latest floods to strike the UK, we expect insurance renewal premiums to rise between 10% and 50% depending on the severity of flood damage caused.
"Even those not affected are very likely to see their premiums rise by up to 5% - flood damage therefore is not just a problem for those currently affected but one for the UK as a whole."
And Domenico del Re, catastrophe expert, PwC, explained that the new legislation to ensure new
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Most read
- Blog: Aviva’s predictions for commercial lines brokers this year
- Lords starts hearing evidence in insurance market regulation inquiry
- Acrisure highlights £1bn GWP aim as it moves to "disrupt" UK broking
- Covid BI claims payments now at £1.3bn
- Brokers face staff shortfall amid Great Resignation
- Clear Group buys Ashford-based broker
- Pen extends links with QBE for £300m capacity deal