General Insurance Article - 4th quarter weather claims worst for 10 years


 Deloitte comments on figures that show nearly 200,000* weather damage insurance claims for property were reported in the final quarter of 2013.

 James Rakow, insurance partner at Deloitte, 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. In comparison, this was more than twice the number (89,000) reported in the same period of 2012.

 “The storms and heavy rain in January and February this year are likely to result in the highest number of first-quarter claims since the terrible storms of 1990. These figures highlight the volatility of weather damage claims. The weather was generally good during the first nine months of 2013 with relatively few storms and floods until the St Jude’s storm of October.”

 *Source: Association of British Insurers (ABI). Figures are for domestic and commercial freeze, storm and flood damage claims. 

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