The Association of British Insurers (ABI) has released its expected payout amounts for Storms Ciara and Dennis.
According to ABI’s initial estimates, compensation for flood claims will reach £214 million – with £107 million going to domestic property; £85 million, commercial property; and £21.7 million, motor.
As for windstorm damage, the estimated payout is £149 million. Of this sum, £77 million is forecast to be used for domestic property claims; £61 million, commercial property; and £11 million, motor.
The total, then, is pegged at £363 million. Meanwhile, the trade body said insurance providers have made initial emergency payments in excess of £7.7 million.
“Insurers’ first priority when bad weather strikes is always to help customers recover from the traumatic experience as quickly as possible,” commented ABI assistant director and general insurance policy head Mark Shepherd.
“With some properties still under water, making emergency payments and arranging emergency alternative temporary accommodation or trading premises is very much a live issue.”
Shepherd continued: “When the flood waters recede, the hard work begins. Insurers and loss adjusters will continue working around the clock to ensure homes and businesses are fully dried out so that repairs can start as soon as possible, and people can get their lives back together.”
