LV= : Insurance impact of recent flooding

Commenting on the insurance impact of recent flooding, Andrew Beard, head of business development at LV= said: “Many of our customers were affected by the recent floods and we are committed to helping them through this difficult period.

“We would also like to reassure our household insurance customers that we will not be applying wholesale premium increases to compensate for the cost of recent flood claims.

“Flooding like this is sadly no longer a freak occurrence, and our pricing system already makes allowance for harsh weather incidents becoming more commonplace. This enables us to offer homeowners stable premiums, rather than raise prices across the board when these devastating and costly incidents occur.

“As a mutual insurer, we are able to go that little bit further in looking after our policyholders and ensuring our prices are competitive at all times.”