Insurance flooding claims tops over 1.5 billion GBP

Mon, 09 Jul 2007

The recent flooding that has severely affected many areas of the UK has resulted in business, motor and home insurance claims totalling more than £1.5 billion, according to official figures.

An estimate provided by the Association of British Insurers incorporates the greater clarity of information regarding home insurance claims due to the damage to more than 27,500 residential properties.

According to the body, work has already begun to clean and repair damage to houses, with home insurance companies providing the necessary assistance to those affected by the "difficult times" now being faced.

Stephen Haddrill, director general of the Association of British Insurers, asserted that elderly individuals, families or persons with health concerns will be the priority for home insurance customers.

"We will be talking to our customers about how we can help them avoid the trauma of a similar event in future, for example through using more flood-proof building techniques," he added.

Last week, David Murby, the managing director of credit reference agency Experian's Insurance Services division predicted that claims would reach an "all-time high" for June's flooding.

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