17 October 2011
The past number of years the severe weather has resulted in a massive deterioration in the claims on the GAA property policy so much so that the policy is running at in excess of a 200% loss ratio - this means that the claims reported are over double the premium we pay. Last year in particular the thaw at Dec 26 resulted in over 200 claims many of which were reported extremly late by units. From this it would appear that properties were not monitored or checked during the closed months and in these cases the extent of damage was hugely increased.
Severe weather is forcast for the end of October - can I ask all units to ensure they address the matters highlighted in the guideline and if properties are being left unoccupied that they are checked regularly or systems drained down
