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Home Insurance

Storm Dennis led Insurance Claims to amount £225m

The Global Economics by The Global Economics
February 21, 2020
in Insurance
Reading Time: 1 min read
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Ecological disaster. House flooded by contaminated water from a copper mine. Rosia Montana, Romania

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Storm Dennis outbreak in the United Kingdom led to flooding and damage on the dates of 15 and 16 February. This terrible aftereffect has amounted to £225m in terms of insurance claims. This drove the insurance costs to £425m from two February storms. The drastic climate gave rise to heavy rainfall and intense winds to regions of England and Wales. This resulted in increased river levels and engulfed loads of valuables.

At PricewaterhouseCoopers (PwC), insurance analysts predicted the damage worth £175m to £225m done to residences, vehicles and businesses.

Mohammed Khan who also happens to be General Insurance Leader at PwC said, “There has been far more flood damage from Storm Dennis compared to Storm Ciara – which was mainly wind damage.” He further added a warning regarding massive rainfall and flooding. Kate Marks, an official at Environment Agency (EA) indicated that while Storm Dennis had departed, “we’ll be feeling the impacts for a few more days. There’s a lot more water in the river systems.” Storm Dennis covered regions of Britain, Wales and Northern Ireland. It led to numerous alerts and flood warnings in these areas on Sunday.

The water levels of rivers Wye and Severn will continue to be particularly high during the weekend as flood-hit regions in these provinces are receiving further downpour.

The storm is speculated to have inflicted the most disastrous winter flooding in contemporary times. The insurance claim amounts can further witness an upswing due to the bad weather conditions.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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