Insurers 'working round the clock'
- Published: 27/07/2007
UK insurers are working around the clock to help their customers in the wake of the recent flooding that has hit many parts of England, a leading industry body has said.
In addition to the claims that arose as a result of earlier floods in Yorkshire, insurers are currently handling over 50,000 claims as a result of this latest spate of flooding, the Association of British Insurers (ABI) says.
July floods have so far resulted in 12,000 claims for flood-damaged homes and 3,500 claims from businesses. The estimated insured cost coming about as a result of this is set to hit £1 billion - pushing the combined costs to around £2.5 billion, the ABI asserts.
"The priority for insurers is to help their customers pick up the pieces from these devastating floods. More vulnerable customers, and the hardest hit, are placed at the top of the list," Nick Starling, the ABI's director of general insurance and health, comments.
"Our members are working flat out, but dealing with two massive events in a short space of time inevitably means that things may take a little longer. Where areas are under water we must wait for the water to recede before we can do anything to assess the damage. Our members are doing what they can to help contact and help policyholders in this situation.
"We must reduce the chances of this happening again. The government must invest more in flood defences, and new homes must not be built in areas at high risk of flooding."
In addition to the claims that arose as a result of earlier floods in Yorkshire, insurers are currently handling over 50,000 claims as a result of this latest spate of flooding, the Association of British Insurers (ABI) says.
July floods have so far resulted in 12,000 claims for flood-damaged homes and 3,500 claims from businesses. The estimated insured cost coming about as a result of this is set to hit £1 billion - pushing the combined costs to around £2.5 billion, the ABI asserts.
"The priority for insurers is to help their customers pick up the pieces from these devastating floods. More vulnerable customers, and the hardest hit, are placed at the top of the list," Nick Starling, the ABI's director of general insurance and health, comments.
"Our members are working flat out, but dealing with two massive events in a short space of time inevitably means that things may take a little longer. Where areas are under water we must wait for the water to recede before we can do anything to assess the damage. Our members are doing what they can to help contact and help policyholders in this situation.
"We must reduce the chances of this happening again. The government must invest more in flood defences, and new homes must not be built in areas at high risk of flooding."