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24Jan/100

AXA pays one Million for Bukit Timah Flood

It was reported recently on the papers that in the last 3 years, insurance company AXA has given out about $1.6 million in claims for vehicles damaged because of flood. But this is insignificant, compared to the damages caused by the flood which hit parts of Bukit Timah on 19 Nov 2009 . Motor insurance claims for damage inflicted by that flood alone amounted to more than $1 million!!  That day, Bukit Timah was flooded by 110mm of rainfall - that's approximately "6 times that of a normal storm" causing a 3km-long diversion canal linked to the main canal to overflow and flood some underground carparks.

Will insurers increase their premiums because of this "freak flood", or perhaps include an exclusion? Well, that remains the same. Let's cross our fingers

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