Insurers may refuse to quote on new business in flood zones
Hibernian Aviva, which insures one in five Irish homes, will pay out €50m and AXA will pay out €10m for recent flood claims in what could cost the industry €250m the Sunday Post reports.
The Irish Insurance Federation (IIF) has warned insurers that might not on new business in food areas. Hibernian Aviva spokesman Alan Tyrrell said that the company’s policy would be to re-insure all existing customers who have been flooded.
