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. 

Back to Index


Similar News to this Story

Young drivers benefit from lower car insurance costs
The overall cost of running a car for young drivers has fallen by over 6% in the past six months, primarily driven by a decrease in the cost of fuel a
Landmark appeal ruling on fundamental dishonesty finding
Horwich Farrelly in conjunction with Aviva, has successfully won an appeal case that could transform the way courts interpret legislation on fundament
Solvency II should embed sustainability
Insurance Europe has responded to a call for evidence by the European Insurance and Occupational Pensions Authority (EIOPA) on sustainability in Pilla

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.