Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Insurers face $472 million bill for UK floods

Insurers are expected to pay policyholders an estimated 363 million pounds ($471.79 million) for flood and wind damage from two storms in Britain last month, the Association of British Insurers said on Saturday.

A total of 82,000 claims have been received, the ABI said.

The anticipated payout compares with 110 million pounds for flooding in November, and 1.3 billion pounds for storms in December 2015.

(Reporting by Huw Jones; Editing by Kirsten Donovan)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.