Business in Ireland

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• Flood damage claims could cost E250m

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  Helena Deane    Group moderator

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  Flood damage claims could cost E250m

  Hibernian Aviva, the country's largest insurer, has today estimated that the insurance cost of flooding damage to homes and businesses around the country may now exceed E250m across the entire insurance industry.
  
  This figure comes to light as floodwaters in some parts of the country recede and the company's loss adjustors and claims assessors begin to file their claims reports.
  
  The company also confirmed that the number of claims calls to its claims office has started to peak, reaching over 4,500 at the end of last week.
  
  It said that flooding in Ireland is a significant concern and the cost of the most recent significant flood event (August 2008) to the insurance industry was estimated at E100m.
  
  "In the space of just over one week Ireland has experienced an unprecedented weather and flooding event. The implications for householders, businesses and motorists across the country cannot be underestimated. And as the threat of floods in some areas continues, the issue facing the country now is responding to the flooding aftermath from a public health, safety and logistical perspective. When those matters have been dealt with, the time will then be right to analyse what happened and develop an appropriate plan to deal with this issue in the future. Our focus now is on looking out for our customers at this difficult time," said Michael Murphy, Managing Director, Hibernian Aviva General Insurance.
  
  (bizworld)
  
  • 02 Dec 2009, 01:11 am
  Helena Deane wrote: > Hibernian Aviva, the country's largest insurer, has today estimated > that the insurance cost of flooding damage to homes and businesses > around the country may now exceed E250m across the entire insurance > industry. > > This figure comes to light as floodwaters in some parts of the > country recede and the company's loss adjustors and claims assessors > begin to file their claims reports. > > The company also confirmed that the number of claims calls to its > claims office has started to peak, reaching over 4,500 at the end of > last week. > > It said that flooding in Ireland is a significant concern and the > cost of the most recent significant flood event (August 2008) to the > insurance industry was estimated at E100m. > > "In the space of just over one week Ireland has experienced an > unprecedented weather and flooding event. The implications for > householders, businesses and motorists across the country cannot be > underestimated. And as the threat of floods in some areas continues, > the issue facing the country now is responding to the flooding > aftermath from a public health, safety and logistical perspective. > When those matters have been dealt with, the time will then be right > to analyse what happened and develop an appropriate plan to deal with > this issue in the future. Our focus now is on looking out for our > customers at this difficult time," said Michael Murphy, Managing > Director, Hibernian Aviva General Insurance. > > (bizworld)