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QBE Insurance Group Flooding Information. 2 Flooding It is the inevitable disaster and one of nature’s worst. Each year flood waters rise and properties.

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Presentation on theme: "QBE Insurance Group Flooding Information. 2 Flooding It is the inevitable disaster and one of nature’s worst. Each year flood waters rise and properties."— Presentation transcript:

1 QBE Insurance Group Flooding Information

2 2 Flooding It is the inevitable disaster and one of nature’s worst. Each year flood waters rise and properties are damaged. Flooding can occur at anytime and in any state, and other than fire, it is the most common and widespread disaster. “All Risk” insurance policies do not cover flooding.

3 Flooding 1.A general and temporary condition of partial or complete inundation of two or more properties (at least one of which is your property) from: a.Overflow of inland or tidal waters; b.The unusual and rapid accumulation or runoff of surface waters from any source, such as heavy rainfall; c.Mudflow; 3

4 Flooding 2.Flood, as used in this insurance policy, means: Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined in 1.a. above. 4

5 Types of Floods Flood Insurance covers direct physical loss by “Flood”. The cause has to be direct physical for coverage to apply. 5

6 Types of Floods River Flooding Coastal Flooding Urban Flooding Flash Flooding Spring Thaw Oversaturated Soil 6 Tropical Systems Levee or Dam Failures Rainstorms Tsunami Mudflow

7 Types of Floods River flooding: Overflow of stream, creek or river, contributing causes: Heavy Rainfall Spring Thaw 7 Run-off from Saturated Soil Weakening Tropical Systems

8 Types of Floods Coastal Flooding: Storm surges associated with Tropical Systems and Nor’easters. 8

9 Types of Floods Urban Flooding: Accumulation of rainfall or snowmelt due to new development and construction. 9

10 Types of Floods Dam or Levee Failures: Decayed or un-maintained levees and dams, failing or being overtopped during large floods, heavy rains, or tropical systems. 10

11 Types of Floods Flash Flooding: High rate of rainfall and how long it lasts in one area can cause flash flooding. Flash floods can roll boulders, tear our trees, destroy buildings and bridges, and scour out new channels. Rapidly rising water can reach heights of 30 feet or more. Can produce catastrophic mud slides. Most flood deaths are due to Flash Floods. 11

12 Types of Floods Is it Flooding? Water Hydrant Bust Water Line Bust Inside a Home 12 Surface Water Tidal Wave

13 Types of Floods NOT Flooding: Surface water (unless 2 or more properties, one is insured) Water line bust inside a home Overflow of pool in rear yard (unless 2 or more properties) No water line on exterior of home? How did it flood? 13


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