A quarter of flood claims settled

| October 4, 2007 | 0 Comments

Just over 100 days since the summer floods first hit parts of north and east England, at least 25% of insurance claims have now been settled, flood-hit areas included Hull, Sheffield and Doncaster.

After a meeting with the Association of British Insurers (ABI), Floods Recovery Minister, John Healey, said this is probably of little comfort to those living in temporary accommodation but the figures do show steady progress.

The Minister added that there have been rumours about areas being blacklisted for flood-related insurance cover but he confirmed that the ABI said no areas have been blacklisted and there is no proof that policy renewals are being denied.

So far, the government has made £57 million available in assistance to those affected by the floods and the insurance industry is playing a vital role.

Stephen Haddrill, director general of the ABI said that since the flooding in the north and east England, insurers have been handling over 130,000 claims for homes, businesses and cars. It is anticipated that the cost of claims from the summer floods will exceed £3 billion.

Mr Haddrill concluded that without the efforts of Britain’s insurance industry in dealing with the pain and loss caused by the floods, extra costs would have fallen on the taxpayer.

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