Even as battered Britain was cleaning up the damages caused by severe floods in October, a new combination of heavy rain and high tides threatened Wales and the Southwest; the Severn river crested at over 14 1/2 feet, higher than in October, and more rain is expected.
A Guy Carpenter report entitled “United Kingdom Floods – 2000” estimates damages at £500 million ($727.5 million), and issues a warning that the future holds worse in store. “Damages caused by riverine and coastal flooding are predicted to increase by a factor of 2 to 3 over the next 50 years,” says the report.
On a densely populated island, buildings are too frequently constructed in areas subject to floods and tides. “An association of British Insurers report estimates that there are between 950,000 and 1.7 million properties built on inland floodplains in the UK with the total insured property value at risk of 35 billion ponds,” according to the report.
Topics Carriers Profit Loss Flood
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