Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
June 25, 2008

Pitt report acknowledges insurers’ strengths and weaknesses

by Gill Montia

Story link: Pitt report acknowledges insurers’ strengths and weaknesses

The Pitt report on last summer’s flooding has been published today.

Among its 92 recommendations are proposals for the development of a 25-year plan to address the issue of flooding.

The author of the report, Sir Michael Pitt, wants to see a review of building regulations for homes built or refurbished in flood-prone areas and greater collaboration between the Met Office and the Environment Agency to produce accurate flood warnings.

Sir Michael also wants electronic maps of drainage ditches and streams to be drawn up and to include details of the bodies responsible for maintenance.

The report acknowledges that most insurers performed well under difficult circumstances last summer but in a survey of claimants, 22% of flood victims said they were dissatisfied with the service they had received.

The report highlights the need for the industry to respond more quickly to customer phone calls and also criticises the actions of some loss adjusters.

The Association of British Insurers (ABI) has responded to the report by calling on the Government to act on the recommendations without delay.

The ABI’s Director General, Nick Starling, believes that the report must be a catalyst for an overhaul in managing and adapting to the increasing flood threat.

He believes that any long-term flood strategy should focus on better co-ordination and include a thorough reassessment of the flood risk from rivers, drainage and the sea.


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