UK Storms Lead to Nearly $474M in Insurance Payouts: ABI

March 9, 2020

Insurers expect to pay more than $473.7 million to UK customers hit by the recent Storms Ciara and Dennis, 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:

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:

Windstorm damage, which had an estimated payout of £149 million (US$194.4 million) is:

The flooding in parts of south Yorkshire and the Midlands in November last year are set to cost in excess of £110 million ($143.5 million). The last time several storms of significance struck in quick succession was in December 2015, when Storms Eva, Frank and Desmond caused insured damaged valued at £1.3 billion ($1.7 billion).

Source: Association of British Insurers

*This story ran previously in our sister publication Insurance Journal.