Homes at risk of flooding enjoy affordable insurance

April 20th, 2017

This month Flood Re celebrates its first birthday and it’s been a busy year. If you haven’t heard of Flood Re it’s a government backed scheme aimed at helping homeowners at risk of flooding find affordable insurance. Flood Re has been a real success story underpinning 130,000 home insurance policies in its first 12 months of life. Read the rest of this entry »

Affordable insurance for businesses at risk of flooding

December 23rd, 2016

business-flood-2It’s great news for businesses located in flood risk areas as the British Insurance Brokers’ Association (BIBA) announces the launch of a new product aimed at helping commercial properties find competitive insurance.

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Insurers get prepared for winter floods

December 15th, 2016

business-flood-insurance-imageLast winter’s floods devastated communities and cost insurers £1.3billion in claims. In preparation for possible wet weather ahead the insurance industry has 5,000 workers on standby ready to handle calls about claims and provide practical advice on the ground.

 

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Quoteline Direct now comparing Flood Re insurance quotes

April 26th, 2016

lifebuoyQuoteline Direct is one of the first insurance brokers to truly take advantage of the recently launched Flood Re scheme which aims to provide affordable insurance for homeowners living in flood risk areas. Read the rest of this entry »

Launch of Flood Re provides a lifeline for homes at risk of flooding

April 14th, 2016

flood rubber bootsAfter the wettest winter on record the clean-up bill for the damage caused by the floods is estimated to cost insurers an eye-watering £1.4billion. Rising floodwaters have been matched by rising household insurance premiums and with climate change the problem looks likely to get worse. Read the rest of this entry »

News Round-up: Interesting Insurance Stories in the Headlines

January 25th, 2016

lifelineBIBA throws a lifeline to businesses at risk of flooding

Homeowners recovering from the recent floods can take some comfort that they will have access to affordable home insurance thanks to ‘Flood Re’. After years of negotiation between the government and the insurance industry the scheme comes into effect in April and has been widely welcomed across the board, with one exception. Until now business premises have been excluded from the agreement and small business owners in flood prone areas have been bracing themselves for prohibitively high premiums. Read the rest of this entry »

Flood Resilience Measures Explained

January 14th, 2016

flood resilianceThe recent floods in the north of England have thrown into sharp contrast the differences in thinking behind flood prevention. While the government and the Environment Agency both agree that something needs to be done; nobody is quite sure where to start. Read the rest of this entry »

Flood Insurance: Some solace for winter flood victims

January 8th, 2016

flood imageWith large areas of Northern England still underwater, and more rain forecast to fall, it’s been a devastating Christmas for many UK homeowners. However, analysts have provided a glimmer of hope for flood victims by predicting that premiums won’t rise and that insurers will shoulder the financial burden.

The country has been battered by storms over the past month and the Met Office has confirmed that December was the wettest month since records began way back in 1910. The auditing giant PwC estimated the economic impact of the storms could top £2.5billion and insurers are bracing themselves for payouts in excess of £1.4billion. Read the rest of this entry »

Flood Risks for Businesses

November 30th, 2015

sand bags floodAccording to the ABI British businesses made 3,100 flood insurance claims and 44,700 storm insurance claims in the first two months of 2014. With the worst of the winter weather just around the corner we look at practical steps you can take to make sure your business stays buoyant. Read the rest of this entry »

Flood Re Agreement Guarantees Cover for Homes at Risk of Flooding

January 9th, 2015

flood sandbagsGreat news for homeowners living in flood risk areas: the government and the insurance industry have finally come to an agreement over the best way to provide affordable insurance for properties at risk of flooding. A tentative agreement named ‘Flood Re’ was first put on the table in June 2013 and after eighteen months of hard work it’s now ready for implementation. Read the rest of this entry »