Flooding
New technology to provide more accurate flood risk pricing
Chubb Insurance has adopted a new system for predicting the potential severity of flood risk to individual properties.
Flood cover could be pulled following reforms warns ABI
Government tactics to reform the planning process must not lead to uninsurable building developments, the Association of British Insurers (ABI) has warned.
Insurers are flooded with escape of water claims
Nearly one in five claims made on buildings and contents insurance is for damage caused by escape of water, costing £2m every day, according to research from the Association of British Insurers.
Select & Protect enters non-standard home insurance market
Select & Protect has launched a non-standard risk home insurance product for brokers aimed at customers struggling to find cover due to criteria such as a flood risk property, adverse claims history or criminal convictions.
Catastrophes push Markel's COR up to 152%
First quarter results for Markel International have revealed a combined operating ratio of 152% compared to 109% for the same period of 2010.
Japan Earthquake will not trigger hard market, says Willis Re
Relatively orderly price movements at the 1 April Japanese reinsurance renewals have indicated that the Tohoku Earthquake is not the catalyst that will bring about a hard market, according to Willis Re.
Reportage - Commercial property: Businesses under the weather
Louise Phillips examines the risks facing commercial property when it comes to weather and how brokers should advise their clients to prepare for the worst and put in place measures to limit damage.
Power hour: A flood defence drought
The coalition has already announced that flood defence spending is to be cut. With the Statement of Principles due to run out in 2013 this month's discussion focuses on the possible impact for insurance. Emmanuel Kenning reports from Manchester.
News review: January 2011
Groupama announced its plans to transfer the Liverpool and Glasgow-based commercial motor accounts of broker Choice Quote to its sister business Bollington, as part of a restructure of its GUK Broking Services arm.
RSA expects 2010 profits to approach £630m despite bad weather impact
RSA has announced the impact of adverse weather in November and December 2010 to be around £142m above normal levels with full year costs predicted to hit £255m.
Commercial property contracts under threat from flood defence cuts, says JLT
The Government’s £200m cuts on flood defences could have a catastrophic effect on the commercial property market by making flood insurance unavailable, Bill Gloyn, partner, european real estate at JLT has warned.
Household insurance in flood risk areas subsidised by £511 annually, says Axa
According to data from Axa, household insurance for homes in high flood risk regions is being subsidised by £511 each year. The insurer stated this means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect…
Agenda: Insurance and the state
The insurance industry and the state are inextricably entwined with a large number of common interests but competing in a number of areas in looking after the wellbeing of citizens and businesses. On a macro basis, the need for insurance in a communist…
2010 review: A year of living cautiously
The economy grew, rival political parties unexpectedly started working together and personal lines rates even hardened, although plenty of surprises and setbacks meant that 2010 was far from plain sailing, writes Andrew Tjaardstra.
News Analysis - Cornwall: After the flood
Emmanuel Kenning asks how the insurance profession has responded to the floods in Cornwall.
Flood insurance bills soar to £4.5bn, according to ABI
The cost of flood damage since 2000 has leapt by 200% on the previous decade according to figures released by the Association of British Insurers.
ABI issues advice for Cornwall's flood victims
The Association of British Insurers (ABI) has issued advice for people who have been flooded following heavy rainfall in Cornwall.
Editor's comment: Regional gloom with some optimism
The Spending Review dominated October, the speculation leading up to George Osborne's announcement in parliament giving way to analysis of how hard and where exactly the Chancellor's axe will fall on public spending.
Spending Review 2010: AA disappointed at drop in flood defence spending
AA Insurance has voiced its concern that spending on flood defence will not be maintained at current levels.
Spending Review 2010: ABI and Biba disappointed over flood defence cuts
The Department for Environment, Food and Rural Affairs (Defra) has seen its budget cut from £2.9bn this financial year to £2.2bn in 2014-15. The settlement provides for £2bn to be spent on flood and coastal defences over the Spending Review period,…
AA warns flood defence cuts could make hundreds of thousands of homes uninsurable
AA Insurance is urging the Government not to cut spending on flood defences in its autumn comprehensive spending review.
Insurance Age blog: Can brokers save the industry's cred?
Since I started writing for Insurance Age in July last year I have heard so much said about how the public perception of insurance needs to change.
Flooding: Raising the barriers
The spate of high-profile floods over the last five years has given insurers, brokers and clients much food for thought about rates and whether or not some risks can be covered at all. Andrew Tjaardstra finds out what precautions the industry is taking.