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'Storm insurance claims ‘at 10-year high’

Weather-related property insurance claims in the UK hit a 10-year high during the fourth quarter of 2013 because of this winter’s extreme storms and floods, according to accountancy firm Deloitte.

28 FEBRUARY 2014 | BY JUDITH UGWUMADU

Analysing the figures, drawn from Association of British Insurers data, Deloitte said that, as of December 31 2013, insurers dealt with nearly 200,000 weather-damage insurance claims to properties.

Deloitte’s insurance partner James Rakow said:  ‘Widespread storms and floods in the final three months of 2013 generated 198,000 insurance claims, which is the highest number of weather-related fourth-quarter claims in the past 10 years.’

Property damage accounted 172,000 insurance claims, domestic pipe leaks for 5,000 and commercial weather-related claims stood at 22,000.
- See more at: http://www.theactuary.com/news/2014/02/storm-insurance-claims-at-10-year-high/#sthash.ABbPZeYi.dpuf

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