Flood victims should avoid management firms - ABI

It says such firms will take a slice of funds paid, which could leave householders short of the money needed to repair damage and replace possessions. Costs resulting from the recent floods which ravaged the English midlands has risen to £1.5bn. ABI says the industry is “well advanced” in assessing damage caused to homes and businesses. It estimates some 27,500 homes and 7,000 businesses are affected. ABI says insurers expect to complete the initial process of visiting properties by early next week, while interim payments are being made for businesses and motor claims. Stephen Haddrill...