On the defensive.
John Sawyer looks at the effect of the ABI Flood Agreement, put in place after the autumn floods of 2000, and how the sector is shaping up in preparation for its expiry.
The recent bad weather has served as a reminder that record-breakingconditions are now the norm, and the insurance industry is seeing a
greater frequency and severity of flood claims than ever before. During
2000, the total cost of flood claims including domestic and commercial
business was £1.3bn, according to the Association of British Insurers.
Few of us can forget the floods from October to December 2000 and the
breathtaking scale of the disaster. Large regions across the UK were
submerged
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