26-06-2007
Lloyds TSB Insurance prepares catastrophe plan
Lloyds TSB Insurance has announced that it is preparing the implementation of its catastrophe plan, following recent flooding in England and Wales.
The insurance provider has announced its decision following an increase of 800 per cent in the number of weather-related insurance claims.
Indeed, according to data released by Lloyds TSB Insurance, there are close to 150 outstanding flood warnings in place across the country.
"We're monitoring the national picture closely and remain in contact with the Met Office," said Phil Loney, managing director of Lloyds TSB Insurance.
"As the situation continues to unfold we may have no option other than to invoke our catastrophe plan," he added.
Lloyds TSB offers business insurance in partnership with Simply Business.