Insurers Face £110M Claims Bill After Floods Hit Northern UK
Law360, London (November 27, 2019, 1:20 PM GMT) -- Insurers have received more than 4,000 claims totaling £110 million ($142 million) after floods hit northern areas of the U.K. this month, a trade body for the sector said on Wednesday.
The Association of British Insurers said £1.2 million has been paid so far in initial emergency payments to help homeowners and businesses get back on their feet following the flooding. Insurers have paid out at least another £680,000 for placing the worst-hit flood victims in alternative temporary accommodation, the body, which represents most of the U.K.’s top insurers, said.
The payouts come after major floods engulfed parts of Yorkshire and the Midlands from...
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