Flood Insurance: Highest Payouts in 5 Years


New flood statistics from the Association of British Insurers (ABI) have highlighted that insurers paid out £1.19bn for flood damage in the UK in 2012 – the highest annual figure for five years.

According to the Met Office, last year was the second wettest on record in the UK with total rainfall reaching 1,330.7mm (52.4in) and ABI have calculated that the average payout for flood-damaged properties was £18,200.

Due to the number of floods that struck during the year, insurers received 411,300 claims totalling £690m for damage to homes and 47,000 claims for commercial properties totalling £373m.

REC Ltd has expanded its Flood Risk capabilities in response to the recent floods with a dedicated decision to address growing demand for protection against flood risks.

The new division will be headed up by Laurence Waterhouse, a flood risk specialist and chartered civil engineering surveyor with 34 years of practical experience in consulting engineering and the public sector.

Headquartered at REC’s office based in Salford Quays but operating throughout our 14 national offices, the dedicated division will offer engineering consulting and surveying services in flood risk, hydrology, water resources, environmental, GIS and all water related engineering disciplines.

Our team comprises highly qualifiedhydrologists and engineers who can provide clients with technical and strategic advice on Flood Risk Assessment requirements for all new development sites and existing property portfolios as well as flood risk management for insurers.

For more information, please contact REC Flood Risk on 0161 868 1300 or email marketing@recltd.co.uk