HOLD/EMBARGOED-UK winter floods to cost insurers $2 bln in pay-outs

May 24, 2016 11:01 PM

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LONDON May 25 Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates.

Three winter storms in northern Britain resulted in average household claims of 50,000 pounds, the ABI said on Wednesday, compared with 31,000 pounds during 2013/2014, and an average claim of 25,000 to 30,000 pounds.

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