qbe insurance group flooding information. 2 flooding it is the inevitable disaster and one of...
TRANSCRIPT
QBE Insurance GroupFlooding Information
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.
Flooding1. 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
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
Types of FloodsFlood Insurance covers direct physical loss by “Flood”.
The cause has to be direct physical for coverage
to apply.
5
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
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
Types of Floods
Coastal Flooding: Storm surges associated with Tropical Systems
and Nor’easters.
8
Types of Floods
Urban Flooding: Accumulation of rainfall or snowmelt due to
new development and construction.
9
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
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
Types of Floods
Is it Flooding?• Water Hydrant Bust• Water Line Bust Inside a Home
12
• Surface Water• Tidal Wave
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