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Flood
affected Property in the UK
Released 7th
August 2008 Summary:
The ABI
and British Government have an agreement
to ensure that flood insurance remains widely available. BIBA
has welcomed this but believes that there are still properties that will be excluded
from this agreement and will need specialist advice from an insurance broker Over
the past few weeks there has been a lot of press
coverage to flood insurance problems in the UK. This follows on from the floods
in August 2007 and earlier flooding. In
mid July The
British Insurance Brokers' Association (BIBA) welcomed the agreement between
Government and the Association of British Insurers (ABI) to ensure that flood
insurance remains widely available. Despite this, BIBA believes that there are
still properties that will be excluded from this agreement and will need specialist
advice from an insurance broker. One of these insurance brokers is Delite Insurance.
Properties
which have an annual probability of flooding greater than 1 in 75 (1.3%) and are
not due to have flood defences improved within the next five years will not necessarily
be covered by the agreement and could face rejection, as could all new build properties
from 1st January 2009. Neil
Cook of Delite Insurance
said "Although there is often talk about discussions about discussing ways to
resolve this issue, nothing immediate is ever done as these discussions can drag
on for years! Which
does not help you in anyway !!!! That is of course until now!" jml
Insurance.co.uk working with Delite who are a specialist insurance broker and
members of BIBA - The British Insurance Brokers' Association. Delite insurance
can offer assistance for all those who face insurance issues now. To secure a
mortgage or sell your home you will need flood cover as part of the policy but
if you have been flooded or are in a flood plain . Neil
Cook of Delite Insurance went on to say "We can offer cover that works at affordable
pricing that will give the customer the peace of mind and benefits even when their
existing insurer increases the client's premium or withdraws flood cover which
unfortunately is common practice so Delite can help get clients lives back together"
Delite
Insurance has been in business since 1984 and working with jml Insurance.co.uk
for the past eighteen months. Philip
Suter of jml insurance said "We are very pleased that Delite insurance and
BIBA are thinking very positively on this serious issue. There can be nothing
worse for property owners at the present time with the value of the property falling,
the possibility of higher interest rates and then not to be able to arrange insurance
cover when the property is located in a flood area" More
information can be found at the jml insurance website www.jml-insurance.co.uk
Ends....
Company
Information jml
Insurance.co.uk is part of jml
Property Services, the trading name of Jeffrey
Milner Ltd. The company is an UK based company that was established in 1979.
jml insurance acts as an introducer for insurance companies selling property insurance
including landlord and tenant rental products, pet insurance, wedding insurance,
motor insurance, car hire excess insurance, travel insurance and non standard
insurance products. They also operate jmlvillas.com
an online marketing service for owners of holiday home property to advertise and
are part of the jml Group
that includes jml Training
and Consultancy. ©
jml Property Services August 2008
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Flood
Insurance Products March 2011 - a selection of flood defence products - Click
on logo below for more information
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See
also: Flood
Risk Warning from HomeLet Landlord and Tenant Insurance - March 2012 Insurance
companies offering flood insurance cover - February 2012 Insurance
bill for October 2011 floods in Ireland reaches €127 million - February 2012 
Flood
Insurance - Questions and Answers - November 2011 More
flooding in the South of France kills 3 - November 2011 Flooding
causes chaos in Dublin - Ireland - October 2011 Flood
Risk Home Insurance - October 2011 Chippen
Campden flood letter - October 2011 Flooding
in Goole east Yorkshire - August 2011 Flood
damaged Property Insurance might soon be needed again - July 2011 Problem
property building and contents insurance solved in high risk flood area post code
Zone - July 2011 Flooding
Memphis as Mississipi River crested 48ft in USA - May 2011 A
testimonial for flood cover insurance - April 2011 Flood
victims in Cumbria may not be able to get insurance cover - March 2011 Mary
Dhonau resigns from the National Flood Forum - December 2010 Councillor
wants to build houses in flood risk area in Clare County Ireland - December 2010 
Insurance
premium increases after claim for flooding - January 2011 Flood
Victims - January 2011 Drying
Flooded Buildings -DCLG December 2010 
UK
flood damage costs up 200% - November 2010 Double
Whammy for Flood Victims - November 2010 UK
flood damage costs up 200% - November 2010
Policy holders face the backlash of the floods - June 2010 ABI
calls for flood defences spending to help boost economy - November 2008
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to jml insurance Press Releases See
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Industry News Press Releases 2010 Insurance
Industry Press Releases 2009 Insurance
Industry Press Releases -2008 Insurance
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