Insured U.K. storm losses may reach $1.89 billion
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Insured losses from a series of storms that hit the United Kingdom in December likely will total about £1.3 billion ($1.89 billion), the Association of British Insurers said Wednesday.
The London-based ABI said insurers had received about 15,000 claims after storms Desmond, Eva and Frank hit the United Kingdom causing widespread flooding.
The ABI said 85% of those claims had been either fully or partly paid.
“Repairing a flooded building cannot be rushed because of the importance of making sure it is properly dried out before repairs are done,” Mark Shepherd, manager of general insurance policy at the ABI, said in a statement.
“The work needed to fully restore every single property affected in December continues with the same sense of urgency as in the immediate aftermath,” he said.
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