Live Insurance News

Flood insurance program in UK is potentially inadequate

August 21, 2013August 19, 2013 G. Turner

According to a recent study, the new plans from the government underestimate the risk and its associated cost. Researchers have been analyzing the data from the newly created flood insurance program from the government of the United Kingdom and are predicting that it will fall short because it has underestimated the number of properties that are at risk of rising waters as a result of climate change. The study proposes that climate change will vastly increase the number of properties at risk of flooding. The research was conducted by a…

Flood insurance now assured for UK homeowners

July 31, 2013July 29, 2013 Julie Campbell

Residents of many villages that thought they may no longer be able to find coverage now have it guaranteed. The people living in a number of villages throughout the United Kingdom, such as those in the area of Worcester and its surrounds, are now breathing a sigh of relief as they hear that their flood insurance will be guaranteed. The coverage was on extremely shaky grounds as the government and insurers in the country negotiated. The negotiations were not looking very promising for some time, but the government and the…

Landlord insurance recommended to help protect investments in the UK

April 22, 2013April 20, 2013 G. Turner

Property owners who are renting out have been advised to make sure they have coverage against floods. Experts in the landlord insurance sector of the industry are reminding the owners of rented properties in the United Kingdom about the importance of protecting their investment, particularly against perils such as flooding, which have become an increasing problem over the last few years. They are reminding these owners that a policy could make the difference between the life and death of their investments. Flooding is already becoming a growing issue in the…

Flood insurance deal not reached between ABI and UK government

March 28, 2013April 30, 2013

The Environment Secretary has expressed the “disappointment” that he feels at the failure to come together. Owen Paterson, Environment Secretary in the U.K. has revealed that he is feeling “disappointment” as a result of the failure of the Association of British Insurers (ABI) and the British government to reach a deal for a flood insurance program that would protect homes and businesses in high risk areas. The two organizations have been in talks over a new coverage strategy for many weeks as the deadline looms. The discussions have been with…

Flood insurance gaining more attention in UK

November 29, 2012November 29, 2012 Nordstrom

Storms again thrust flood insurance into the limelight British insurance companies continue to clash with the government as floods throughout the United Kingdom continue to draw attention to the need for a comprehensive flood insurance plan. Insurers have been backing the Flood Re program for the some, which aims to provide coverage for some 200,000 consumers that could lose coverage if the insurance agreement currently in place is allowed to expire. Flood Re is meant to replace this agreement, but the government continues to show concern over the financial prospects…

Flood Re plan find difficulty in the UK

November 26, 2012November 26, 2012 Dan

UK Flood homeowners Insurance companies Flood Re Plan

Flood Re aims to replace existing flood insurance subsidy A flood insurance plan in the United Kingdom is in threat of falling through because of the government’s refusal to provide a financial backstop. The plan, called Flood Re, is meant to provide flood insurance coverage to homes and properties in high risk areas in the UK. The plan is meant to replace a subsidy that provides flood insurance coverage to consumers in high risk areas, which is scheduled to expire in July 2012. If the subsidy expires, more than 200,000…

Homeowners insurance companies urge U.K. residents to buy coverage for flooding

September 30, 2012September 29, 2012 H. Cutner

Flood policies may become vital as flood alerts and warnings are issued across the country. The warnings and alerts regarding the risk of flooding across the United Kingdom has caused homeowners insurance companies to caution property owners that separate coverage for floods is required in order to protect them against rising waters from the rains that have been lashing several regions. They are being told to go over their policies and make sure that there won’t be any unwanted surprises. For those who do have flood protection added to their…