Insurers expect to make payments to customers hit by the recent Storms Ciara and Dennis of over £363 million (US$ 473.7 million), according to initial estimates from the Association of British Insurers (ABI).
Initial ABI estimates show payouts from Storms Ciara and Dennis that struck in quick succession:
- Total payments to customers estimated at £363 million (US$473.7 million).
- A total of 82,000 claims have been received for flood and wind damage. Of these, 64,300 were for damaged homes and possessions, 10,600 for businesses and stock, with 7,100 relating to damaged vehicles.
The ABI broke down the overall claims into flood and windstorm claims.
Flood claims had an estimated total payout of £214 million (US$279.3 million). These were broken down as follows:……Read more