Norwich Union has unveiled its new flood map, which it said would give people living and working in flood-risk areas more accurate premiums and a better understanding of the risk to their property.
It said the new map could help more than 600,000 properties qualify for insurance, as the digital mapping enables the flood-risk of each individual property to be assessed.
NU said the mapping was being launched in parts of Shropshire and Norfolk, but said it planned to rollout the service to the rest of the UK by the end of 2004.
NU head of underwriting, Laurence Loughnane, said: “Although insurance companies can’t stop properties being flooded, we believe we have a responsibility to ensure flood risk is calculated as accurately as possible.
“Norwich Union has been leading the flooding education and lobbying programme over the past few years and has always been striving for better information about the risk to homes and businesses, and this project represents our further commitment.
“Because of the level of detail provided by the map, people who previously thought their property was uninsurable could now obtain cover.
“The ability to pinpoint whether an individual house is on a hill or raised ground, and how floodwaters will flow, is invaluable in the fight against flood damage.
“The new information will help to convey to customers just how severe the flooding risk to their property will be and how often a flood can be expected.”
