Insurers to pick up the cost of UK floods
- From: Vol 8, Issue 9 (September 2007)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Kelda, Merrill Lynch and Severn Trent
It seems that UK water utilities are living a charmed life. They are set to escape most of the costs associated with the recent flooding, leaving insurers and the Environment Agency to pick up the pieces.
Insurance companies will likely bear most of the costs of the exceptional floods which affected parts of England this summer, according to an August research note from Merrill Lynch. In Gloucestershire, 140,000 households had their water supply cut off when a Severn Trent plant was inundated.
Although insurers may well raise their premiums when insuring water companies, the report ...
Subscription required
To read this full article you must be subscribed to Global Water Intelligence.
Subscribe Now, Sign up for a Free Trial or Log In
