Insurers will give briefing on immediate and longer-term recovery plans at first meeting
The meeting today between insurers and government ministers over the floods crisis is the first in a series of monthly summits aimed at helping communities affected by the floods.
Ministers have asked for an operational briefing on the immediate and longer-term practical recovery plans after the flooding and the steps the industry is taking to ensure this process is as quick and simple as possible.
The insurance companies are also expected to say that there are enough loss adjusters and specialist drying equipment to begin repairs and restoration as soon as the flood waters recede.
Attending the meeting will be cabinet office ministers Oliver Letwin and Jo Johnson, flooding minister Dan Rogerson and communities minister Brandon Lewis.
Insurers set to attend include Aviva, Direct Line Group, AXA, Lloyds Banking Group, Ageas, RSA and AXA. ABI director general Otto Thoresen will also attend the meeting.
Flooding Minister Dan Rogerson said: “We all need to pull together to help those areas badly affected by the floods, so they can get back on their feet as quickly as possible. Dealing with the aftermath will take time and requires a stepped-up national effort.
“Insurers have a critical role to play, and by working closely together we will continue to ensure that the help and support which people need is available.”
How insurers have responded to the floods since 23 December
- Several thousand texts and phone calls have been sent and made to homes and businesses warning them of pending floods, advising them to move to temporary accommodation and automatically sending emergency payments by direct debit.
- £14million of emergency payments have been made to households and businesses since 23 December, with the payments typically between £500 and £3,000 for households, usually paid promptly via bank transfer.
- £24million has been spent on alternative accommodation, across hotels, bed & breakfasts, apartments, and rented properties, with an average estimated cost per affected household projected to be £16,500.
- 1,800 extra staff have been reassigned to customer-facing roles since the start of the flooding to ensure customers get the assistance they need.
- More than 5,000 loss adjuster visits have been made since 23 December and more than 2,000 loss adjusters are ready and waiting for when the waters recede.