Flooding: Raising the barriers
The spate of high-profile floods over the last five years has given insurers, brokers and clients much food for thought about rates and whether or not some risks can be covered at all. Andrew Tjaardstra finds out what precautions the industry is taking.
Flooding is not a new phenomenon in the UK by any stretch of the imagination; for many, the worst flood to hit these isles was in 1953, when the North Sea killed 307 in the UK, 1,835 in the Netherlands and 28 in Belgium. Many also died at sea, and the floods were a primary cause for the building of the Thames Barrier.
In 1947, a peak of 61.7 billion litres of water flowed down the Thames daily, causing what was then valued at £12m of damage. The 2007 floods in Berkshire, Northern Ireland
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