Insurers Contemplate UK Riot Losses

The Association of British Insurers (ABI) says carriers are expecting significant losses of more than 100 million pounds ($162 million at current exchange rate) from damages caused by rioting in boroughs of London and other cities.

By Chad Hemenway | Updated on August 11, 2011

The Association of British Insurers (ABI) says carriers are expecting “significant losses” of more than 100 million pounds ($162 million at current exchange rate) from damages caused by rioting in boroughs of London and other cities.

ABI spokesman Nick Starling says it is “too early for us to have an accurate picture of total costs, especially business-interruption costs,” but insurers are expecting significant home and commercial-insurance claims as youth in the United Kingdom continue to loot businesses and commit arson as they have since Aug. 6.

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