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Getting wise to Flood risk


Getting wise to Flood risk In the UK, barely a day goes by without another report of a weather-related tragedy: homes and businesses under water, trees fallen, roofs ripped clean off. Thankfully we are finally seeing some relief from the storms, but the recovery effort will take months. Now is the time when risk professionals step up to help those whose lives have been devastated by flooding.

UK insurers have rushed to the support of customers who have been affected, thus far giving support in excess of £14m to families in advance of completed claims being filled out; firms have paid out between £500 and £3000 in emergency cash, with approximately £24m being spent on temporary accommodation for affected homeowners. The sector expects to compensate individuals and businesses to the tune of more than £1billion.

Our professionals have offered advice and information on how to manage claims and how to deal with the aftermath of water damage. They aim to have visits arranged with loss adjusters from firms such as Crawford, Cunningham Lindsey and GAB Robins within three to seven days of the property being accessible. Their job includes visiting affected areas and assessing the damage done as an impartial adviser in order to resolve claims as quickly as possible.

The ABI have listed the commitments of British Insurers towards policyholders, committing to being proactive and provide emergency support as well as financial aid.

Eric Galbraith, former chief executive of BIBA spoke out saying "There is nothing any of us can do about the forces of nature but we can all act to reduce the potential damage”

Since St Jude’s storm in late October of 2013, to date the UK has had more than 500mm of rainfall. This is more than 50% above average for the UK, with a broad region from east Devon to Kent and up to the central midlands received well in excess of 200 % of average rainfall. Some more localised areas were closer to three times the average.

The strongest gust of wind was measured at 142mph on Aonach Mor, a mountain in the Scottish Highlands. Wind speeds across the UK have exceeded 50mph in February.

More than 6,500 homes have been flooded throughout South-East / Central-Southern England and large portions of Wales and Scotland, though figures show that this recent bout of bad weather is still nowhere near as severe as the floods of 2007 when parts of the UK were hit with 230% of the average rainfall.

The key message throughout these difficult times has been that the sector is here to help you. Those working in the industry have stepped up to the mark to provide much needed assistance, and will continue to be there in times of need.

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