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

Ethnicity Pay Gap reporting must go beyond biggest employers
Ethnicity pay gap (EPG) reporting involves measuring and publishing the difference in average pay between employees from different ethnic backgrounds
Regulators combine to tackle poor claims management practice
The Financial Conduct Authority (FCA), Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO) and the Advertising Standards Au
9 in 10 firms interested in insurance cover for Gen AI risks
Businesses worldwide are rapidly embedding Generative AI (Gen AI) into products, services and internal operations. While this brings significant oppor

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.