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Flooding causing concern for insurance companies

Mon, 15 May 2006

The increasing numbers of flash floods are causing concern for insurance companies .

With rising sea levels and extreme weather conditions, flooding no longer affects just properties situated at the most obvious locations such as on riverbanks or coastal areas.

This is causing concern for the insurance companies that have to pay out for flood-related damage.

Jon Sellors from insurance provider More Than, reassures homeowners that any flood damage would be covered by most standard household polices .

However he went on to explain his worries about changing weather conditions:

"The nature of flooding is changing. We are now seeing more flash floods which is a real concern for the insurance industry," he explained.

With this is mind he said that homeowners and insurance companies need to think about ways to lessen the risk of flood damage in order to keep insurance premium payments as low as possible.

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