Are insurers leaving themselves open to risk?
Once the flooding
subsides are insurers leaving themselves open to further risk?
Extreme storms and weather events affect our country every single year, but when the flood damage subsides are insurers leaving themselves open to further risk?
February 2020 was the wettest February since 1862. Storms Ciara and Dennis hit the UK on 8th and 16th of February respectively. Some areas saw four times their average rain fall, the North West and North Wales were the worst affected, with a 296% increase in rain fall. It has been estimated that the damage cost the industry in excess of £363m. The beginning of 2018, also saw extreme weather to UK shores, forcing UK home insurers into losses as the “Beast from the East”, Storm Eleanor and May’s flash flooding pushed up claims dramatically.
What happens following a flood?
Once the flooding has subsided and insurers have brought in the several companies required to clean, dry out the property, replace fixtures and fittings, re install and put in place flood resistance defences it’s almost a tick in the box for a job well done. The customer has been returned to a pre loss condition and the insurer can move on.
Chris Edwards commercial director at DASA comments:
“The industry is, quite rightly, focussed on getting customers back to a pre loss condition as quickly and as un-intrusively as possible which we fully support, however, what they are not concentrating on is the potential issues following a flood, once the water has subsided”.
These issues include the potential for further flooding and escape of water damage, caused by blocked drains from silt and sand left by the flood.
“Insurers’ are missing out on the potential to identify future problems by not ensuring that drainage systems are checked following a flood.
“There is also the possibility we may identify a potential recovery from the water company who is responsible for gully’s, drains etc as it is their responsibility to make sure they are adequately maintained.
“Our suggestion is to ensure that as a final point on the flooding checklist, insurers confirm that flood damaged properties have their drains checked and cleaned before the property is signed off as being fully repaired, to avoid the issue of further risk.”
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