The Association of British Insurers urged the UK government to move quickly on flood remediation projects while noting it will be awhile before flooded property owners recover from an estimated $6 billion insured loss.
In a statement, Stephen Haddrill, director general of the ABI, said the association met Tuesday with Britain's government ministers to discuss the aftermath of this summer's floods.
"Since the flooding in Hull, Sheffield, Doncaster and surrounding areas 100 days ago, insurers have been dealing with over 130,000 claims for homes, businesses and motor vehicles," he said. "The cost of [insurance] claims from flooding in June and July is expected to exceed ?3 billion ($6 billion U.S.)."
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.