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

Ten steps insurers are taking to tackle motor cover costs
Insurers announce actions to bring down costs after premiums increased 25% in 2023
Third of drivers forced to pay monthly for car insurance
Research by comparison site Money Expert has revealed a third of drivers in the UK will be considering monthly payment instalments to afford their car
Lloyds provision for FCA investigation lower than expected
Q4 profit before tax £1.8bn vs £1.7bn consensus. Q4 Net interest margin 2.98%. Unwound £541mn of loan loss impairments. £450mn provision for impact of

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.