22 May 2013

Market anticipates £500mn UK flood losses

2 August 2012

The wettest June on record in the UK is likely to hit insurers with claims totaling up to £500mn ($780mn), according to the latest estimates by the Association of British Insurers (ABI).

The ABI previously estimated the costs of the flooding in the UK at between £200mn and £300mn ($310 - $470mn), but revised the figure upwards after UK-based insurer RSA published a flood loss warning on 18 July.

RSA revealed it will take a net loss of roughly £...

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