Household insurers suffered an estimated loss of more than £300m in 2007 due to the severe flooding experienced in the summer, according to a new report by Datamonitor.
The report found that the June and July floods have cost insurers approximately £3bn, and when added to the claims made throughout the year for theft, fire and subsidence, Datamonitor estimated that gross household insurance claims costs were in excess of £4bn.
The company said the bill for primary insurers would be enough to drag
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