General Insurance Article - PwC predict insurances losses will be less than Storm Ciara


Mohammad Khan, General Insurance Leader at PwC UK comments on the predicted insurance losses due to widespread flooding across England and Wales.

 "It is still very early to say what the impact on the general insurance industry will be but based on the current weather, PwC estimates that the losses from Storm Christoph will be between £80m - £120m. This is clearly dependent on what future rainfall occurs but currently would be less than the losses that occurred from Storm Ciara last year.

 "Due to the existence of Flood Re, homeowners who have seen their properties flooded will not necessarily see an increase in the flood element of their premiums on renewal, following the recent storms and current weather. Flood Re charges a fixed premium for the flood element of home insurance for properties built in 2009 and prior."
   

Back to Index


Similar News to this Story

Cyber Insurance is next big product for commercial brokers
UK brokers believe that cyber insurance is the new or emerging commercial insurance product with the most growth potential. Significantly low cyber in
Davies names Richard Barke as CEO of Insurance Solutions
Davies, the leading specialist professional services and technology firm serving insurance and highly regulated markets, has announced the promotion o
Incident response planning is a key cybersecurity control
Despite being focused on post-breach activities, cyber incident response planning has emerged as a key cybersecurity control in reducing an organizati

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.