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
- Up to 275 jobs at risk at Axa XL in the UK
- Ghost broker jailed for two years
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Consolidation opens up opportunities, says Romero boss
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018