Know Your Flood Risk campaign gains momentum
February 26th, 2010 admin
The Environment Agency has issued a report indicating that the terrible floods of 2007 affected some 48,000 homes. The cost per house was up to £30,000, with businesses having to fork out £112,000 to get their firm back up and running. As the dangers of flooding become more widely known, 150 persons have signed up to the National Flood Forum and Landmark Information Group’s …
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Aviva is including flood advisory leaflets in its commercial renewal packs, as part of its campaign to protect commercial policyholders from the impact of flooding. The advice ranges from subscribing to flood alert warnings and investing in local flood protection devices, to moving expensive equipment to less vulnerable parts of the premises. Businesses...
The Association of British Insurers (ABI) is urging the government to make investment in flood defences a priority, despite the squeeze on spending. Speaking at the Local Government Flood Forum, the Association’s director of general insurance, Nick Starling, said a long-term flood prevention strategy, backed by the right level of investment,...
The Flood and Water Management Bill 2009-10 has received the Royal Assent. The Bill addresses the threat of flooding and of water scarcity, both of which are expected to increase with climate change. The new legislation requires the Environment Agency to create a National Flood and Coastal Erosion Risk Management Strategy, which a number of organisations...
The cost of damage caused by last November’s flooding in Cumbria has topped £200 million. According to the Association of British Insurers (ABI), its members have handled 36,000 flood and storm damage claims totalling an estimate £206 million, with 60% of the sum relating to business damage. Interim payments made by insurers to homeowners and...
Aviva has unveiled new technology to help it more accurately predict the risk of flooding for homes and businesses. Aviva, Britain’s largest insurer, said the map will enable it to more accurately assess the risks of each individual customer. The technology, developed in partnership with JBA Consulting, uses digital technology to simulate which...
Devastating winter floods struck Cumbria in the winter, an event to which Crawford & Company was amongst the first to react. Since then, the firm has worked hard to maintain contact through a combination of targeted communications and visits to the area. Crawford & Company organised a trio of flood surgeries in co-operation with the National...
Pitney Bowes Business Insight (PBBI) has launched a new product aimed at making rates and claims decisions faster and more accurate. Risk Data Suite combines geospatial datasets and historical information on a variety of perils including flooding, subsidence, crime and arson. It has the ability to analyse this data via PBBI’s MapInfo Professional...
Marsh is alerting financial firms to the dangers of being underinsured. According to the broker, European financial institutions are buying less insurance, or decreasing their sums insured, in efforts to reduce costs. However, claims notifications in some lines of insurance have risen by as much as 400% in the last four years, and rates for directors’...
The Mutuelle Générale de l’Education Nationale (MGEN), France’s largest supplementary insurance company, has chosen SAS® OpRisk Monitor software to optimise its operational risk management. It was two years ago that MGEN began to assess its operational risk program with a view to bolstering internal monitoring and meet new EU regulatory...
Royal London Mutual Insurance Society has been rapped over the knuckles by the Information Commissioner’s Office (ICO) after breaching the Data Protection Act. The reprimand comes after eight of the firm’s laptops, two of which contained details of 2,135 people who had sought pension scheme illustrations, were stolen from the company’s...
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