January 13, 2003—With many parts of the UK experiencing flood warnings, the Association of British Insurers (ABI) is reminding policyholders to:
- Keep up-to-date with the flood situation, through local radio and the Environment Agency’s Floodline (0845 988 1188).
- Keep personal documents, including insurance and bank details and essential telephone numbers, together in a waterproof bag.
- If safe to do so, move property on lower floors to higher levels. Be prepared to turn off essential supplies—gas, electricity and water—at the mains.
If flooding causes property damage, policyholders should contact their insurer as soon as they can. Many insurers offer a 24-hour emergency helpline service, which can arrange for repairs to be carried out quickly.
With some two million properties currently vulnerable to flooding, a new Statement of Principles, which came into effect on January 1, 2003, reaffirms the commitment of insurers to continue to provide flood insurance to as many flood -vulnerable properties as possible. The Statement will be followed by ABI members, who provide over 97% of the insurance business in the UK.
Under the Statement, flood insurance will continue to be offered to flood-risk properties currently protected to the British Government’s minimum defense standards, and to those properties where improvements to existing defenses to bring them up to the minimum standard, are planned to be completed by 2007. For more information visit ABI.
