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Daily Insurance Industry News
Saturday 20th of January 2018
October 3, 2007

ABI reviews summer floods with Ministers

by Gill Montia

Story link: ABI reviews summer floods with Ministers

Yesterday, The Association of British Insurers (ABI) met with Government ministers to discuss the aftermath of this summer’s flooding.

It has been one hundred days since Hull, Sheffield, Doncaster and the surrounding areas suffered severe weather condition that resulted in over 130,000 claims for homes, businesses and motor vehicles, and the ABI expects the cost of claims from flooding in June and July to exceed £3 billion.

Stephen Haddrill, Director General of the ABI, has reported that “Ministers appreciated the enormous contribution of Britain’s insurance industry to dealing with the trauma and loss caused by these floods. Without these efforts, huge additional costs would fall on the taxpayer, way above the £53 million currently committed”.

Mr Haddrill expects work on damaged property to continue well into 2008 because of the time taken for the drying out process and he urges frustrated claimants to be patient because “in many cases, more haste could mean less speed”.

At the meeting, representative of the ABI once again pressed the Government to respond urgently to reduce the level of flood risk, regardless of whether it is a river, coastal or surface risk.

The Association wants ministers to bring forward the planned increase in spending on flood defences and flood management.

These are currently scheduled for completion during 2010-11 but will be subject to the recommendations of the Pitt Review, which is currently examining both how to reduce the risk and impact of floods and improve the emergency response to floods.

 

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