Ireland braces for heavy flood claims after storms

Insurers are bracing for heavy flood claims as a result of what reinsurance broker Guy Carpenter and Co has described as extensive damage in Ireland after “intense rainfall” on 16 and 17 Aug.

The flooding occurred in both Ireland and Northern Ireland. Guy Carpenter declined to offer a specific estimate of the likely insurance payout. It noted that the rain that caused the flooding was preceded by an earlier spate of wet weather. “The true cost of the flood damage remains unknown at this stage,” the broker said, “but reports have stated that it is likely to run into the millions of pounds.”

Guy Carpenter’s observations came in one of its regular catastrophe Information bulletins