This time last year marked the start of an unprecedented period of wet weather in the UK, with over 5 metres worth of rain falling between 1st December and the middle of February causing many towns and villages to flood. Once the waters had receded and the clean-up operation was underway, the extent of the damage started to become clear and insurers began the long and difficult process of dealing with over 18,700 flood claims, costing an estimated £451million. Insurers’ main objective in the immediate aftermath was to reassure customers, assist them in getting their claims for flood damage started and provide millions of pounds in immediate emergency payments and alternative accommodation where it was needed.
Because of the extreme nature of last winter’s flooding, it took several weeks in many communities for the waters to recede to a level where a proper assessment of the damage could be made. Loss adjusters made over 9,000 visits, including travelling by boat to places like Moorland on the Somerset Levels which had become completely cut off. However, the issue does not end once the waters have gone and the cameras have turned their attention to other issues. The process to dry out and repair a flooded property is a long and complex one. Properties need to fully dry out before most of the necessary repair and reconstruction works can take place. The level of damage caused to some properties meant it has been unsafe for some families to return home for several months, while the schedule of rebuild work takes place. Insurers will aim to get people back in their homes as soon as possible, but the depth of flooding we experienced means that there will inevitably be some claims that take many months to fully resolve.
ABI members have fully and finally settled an estimated 72% of property claims nine months on from the end of the flooding, with nearly 90% expected to be settled within a year. Many of the remaining customers will already be back in their homes with any outstanding work on their properties nearing final completion. Insurers will continue to work hard to finish the more complex flood claims as quickly as possible, but then there is the obvious concern about the impact on renewal premiums for those affected, or those who continue to live at high flood risk. Flood Re will help hundreds of thousands of high flood risk homeowners when it comes into place, but Flood Re will not prevent flooding and the misery it can cause. Flooding has long been recognised as the greatest natural threat the UK faces and with climate change and an increasing population density that threat is getting even greater. That is why we need much more spending on managing flood risk, a zero tolerance approach to inappropriate new developments in areas at risk of flooding and ambitious and long-term solutions that successfully manage all types of flood risk.
For further information on what to do if you are affected by flooding please see the ABI’s website.