Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 20th of February 2018
January 23, 2010

Cumbrian flood claims top £200m

by Gill Montia

Story link: Cumbrian flood claims top £200m

The cost of damage caused by last November’s flooding in Cumbria has topped £200 million.

According to the Association of British Insurers (ABI), its members have handled 36,000 flood and storm damage claims totalling an estimate £206 million, with 60% of the sum relating to business damage.

Interim payments made by insurers to homeowners and firms have ranged from £250 to £400,000, and alternative temporary accommodation has been necessary for 470 policyholders whose flood-damaged properties were left uninhabitable until repairs were carried out.

The ABI is at pains to point out that insurers have done their best to help flood victims get back on their feet, specifically: ensuring repairs to a hotel were completed on time to re-open for the busy Christmas period and that a shop in Cockermouth was fully dried, rewired and re-opened within a month of the flooding.

Finally, the ABI’s director of general insurance and health, Nick Starling, reminds firms of the importance of business continuity insurance which can allow a business continue trading while it recovers from a major incident and local infrastructure is repaired.

 

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