General Insurance Article - 200,000 households could benefit from flood agreement


 Deloitte comments on the initial flood agreement reached between the Association of British Insurers and Government.
 
 James Rakow, insurance partner at Deloitte, said:
 
 “This initial agreement can’t come a moment too soon for the 200,000 households in Britain whose homes are at very high risk of flooding. If an agreement had not been reached, insurance for the homes of hundreds of thousands of people would become difficult to find or afford.
 
 “A key challenge for insurers is to ensure that their risk models and flood data are accurate enough to make effective pricing and underwriting decisions. Large scale floods can be devastating and cause hundreds of millions of pounds of damage. Last year, for example, was the wettest summer for 100 years; in June alone the Environment Agency issued 50 flood warnings and insurers’ flood claims hit £17m a day.”
  

Back to Index


Similar News to this Story

Car and home insurance premiums continue downward trend
Insurance premiums for both motor and home continued their downward trajectory in Q2 2025, but the latest data from Pearson Ham Group’s General Insura
Cyber insurance as a risk mitigating tool
Morningstar DBRS released a commentary about cyber insurance as a risk mitigating tool against enhanced cyber risks affecting corporates, small and me
Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.