ILC ARTICLE

Storm claims approach £500m

29th April 2022

UK insurers are braced for a £500m claims bill as a result of Storms Dudley, Eunice and Franklin.

According to figures released by the Association of British Insurers (ABI), there have been 177,000 claims notified for damaged homes, businesses and vehicles following the trio of storms which hit the UK in the early part of the year.

Of these, 169,500 relate to property damage with a combined cost of £473 million.

Emergency payments totalled £13m, with a further £2.2m paid for alternative accommodation and £23m to repair damaged vehicles.

Sarah Brodie, Senior Policy Adviser, General Insurance, ABI, said: “Storms and floods are exactly the type of unwelcome event that insurance protects against. When bad weather strikes, the priority for insurers is always do all they can to help their customers recover from what can be a traumatic and costly experience as quickly as possible. From making immediate emergency payments where needed, arranging temporary alternative accommodation while badly damaged properties are being repaired, to organising repairs, insurers continue to support their customers whenever storms strike.”

Meanwhile, the ABI will be hosting a Climate Change Summit on 8 June to assess the sector’s progress following the publication of the Climate Change Roadmap last summer, which set out objectives around sustainability and the continued reduction of carbon emissions.