Association of British Insurers: Flood damage claims likely to reach £1billion

29 June 2007
The Association of British Insurers (ABI) has estimated that the damage caused by the recent floods could cost up to £1billion in insurance claims.

27,000 homes and 5,000 business have already been affected, says the ABI, and with such unpredictable weather, these figures could continue to rise.

“These events highlight just how important insurance protection is. If you have been affected by flooding, contact your insurance company. Their priority is to deal with all claims as quickly as possible,” said Jane Milne, the ABI’s Head of Property.

But, warns the ABI, response times are slowing down because iof the sheer scale of the problem. “Insurers are working as hard as possible to reach customers and to visit properties early,” said Stephen Haddrill, Director General of the ABI.

“But these events are so widespread that insurers are redeploying staff to affected areas, increasing staffing levels in call centres and undertaking visits to community centres.

“However, even emergency procedures cannot deliver our normal standards of service. We are doing all we can to help families, elderly customers and those with health difficulties first. We hope that other people can bear with us as we work through the backlog. We will reach everyone as soon as we can.”

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