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News - Flood Insurance Claims GrowClaims due to the June and July flooding in the UK look set to exceed the £2 Billion mark and could even go higher. The heavy rain which caused flooding last month in Yorkshire and Humberside shifted south in July delivering an average months worth of rain in a few hours to parts of Gloucester, Worcestershire and Herefordshire. The Association of British Insurers which represents most of the UK insurance industry says insurance companies are drafting in extra staff to help deal with the expected rush of claims as well as assisting their customers with arrangements for temporary accommodation and emergency repairs. Weather experts attribute the exceptional rainfall to the jetstream, a stream of cold air in the upper atmosphere which is flowing much further south than usual this year and keeping low pressure wet areas over the British Isles. The flooding has once again drawn attention to plans for building new housing on flood plains. Faced with an ongoing housing shortage, the government has refused to rule this out although a recent green paper suggest that local councils should seek advice from the environment agency before granting planning permission in 'at risk' areas. More NewsBank of England Review Base rateBrown promises three million more affordable housesInterest rates rise to 5.75 per centHouse prices up - Demand downWealth Gap biggest for 40 yearsHouse prices flatten |
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