General Insurance Article - Floods, leaks and storms are biggest concerns for insurers


 A survey of the UK’s leading insurers conducted by Deloitte, the business advisory firm, identifies escape of water, floods and storms as the risks that most concern home insurers.
 
 Deloitte analysis indicates that the household insurance market will make an underwriting profit in 2011 following the losses it made in 2010. However, based on research for Deloitte’s annual household insurance seminar, household insurers are likely to impose price rises of between 5% and 10% in 2012.
 
 James Rakow, insurance partner at Deloitte, said:
 
 “In 2010 the insurance industry was hit hard by the extremely cold weather that Britain experienced in December that year, and the additional freeze claims wiped out the profits insurers expected to make on household policies. The weather in 2011 was more benign and it looks as though the industry is on target to declare an underwriting profit for 2011.
 
 “The outturn for 2012 will largely be determined by the weather and the storms that hit Britain in the first few days of January act as a reminder of the huge losses that natural perils such as storms and floods can produce.”

Back to Index


Similar News to this Story

Are you testing your smoke alarms often enough
Only 6% of residents follow safety recommendations for smoke alarms. More than one in 10 never test their alarms. Forgetfulness is given as the main r
SolvencyII review EU must unlock capital for Europes future
Insurance Europe welcomes the launch of the European Commission’s consultation on the Level 2 technical measures of the Solvency II review. It is an o
Mapathon puts Worlds vulnerable communities on the Map
The insurance data and analytics team at LexisNexis® Risk Solutions in the United States and Ireland have led a Mapathon in support of Missing Maps, a

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.