ABI puts February storm payouts at £500m
The Association of British Insurers has updated that insurers are facing a £497m bill from storms Dudley, Eunice and Franklin which battered the UK in February.
The figures are in line with Moody’s prediction in February that the cost to UK insurers would top £400m.
Storm Dudley buffeted the UK on 16 February followed quickly by storm Eunice two days later and then storm Franklin arriving on the 20th.
According to the ABI, the storm damage has led to 177,000 claims for damaged homes, businesses and vehicles. Of these claims, 169,500 relate to property damage making up £473m of the total.
The trade body listed that emergency payments to relieve
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