General Insurance Article - Floods will put pressure on home insurance premiums

 As the Environment Agency issues flood warnings across the UK, Deloitte, the business advisory firm, says that the insurance industry is likely to suffer significant costs for affected properties in the flooded areas.
 
 Ian Clark, insurance partner at Deloitte, said:
 
 “Previous experience has shown that widescale flooding has a significant impact on the level of claims borne by insurance companies and in recent years has tipped them into losses for their household accounts. The overall impact of this will almost certainly be further premium rises for policyholders as insurers seek to recover the losses they have made.”