Winter weather wreaks havoc on insurers
It has been revealed that due to the winter weather that has dominated the UK of late, insurers have had to pay out £650m from 335,000 accident claims.
The biggest chunk of the compensation claims award total was to motorists who were involved in car accidents on the slippery roads, according to the Association of British Insurers.
The ABI confirmed that the cold snap cost insurers £650m for cases made in Great Britain beginning from 18 December and ending 13 January. The ABI speaks for 90% of the insurance market in the UK.
The group stated that there were also 66,600 claims from homeowners and business owners for damage to property - double the number of weather damage claims insurers said they would expect during this period.
This led to a payout of £255m, of which £194m was for damage to homes. Many of the 60,200 claims came as a result of roof damage.
Nick Starling, of the ABI, commented: “Insurers have paid out nearly £1bn to customers following bad weather this winter, as the heavy snow came weeks after the flooding in Cumbria.”
Updated on 15/03/2010