UK insured property loss estimate for February floods updated to £375m

Catastrophe insurance data company Perils has published an updated figure of £375m for the insured property loss for the UK’s February 2020 floods.

The floods were the result of record-breaking rainfall which led to extensive river and flash flooding. Heavy rainfall was mainly associated with the three named storms, Ciara, Dennis and Jorge. Flood damage during the period occurred throughout the entire UK.

Perils said that while the industry loss from the February 2020 Floods was not out of the ordinary, there were also other significant weather-related losses during the winter 2019/2020 period.

Floods in November and December 2019, plus windstorms in February 2020, are estimated by Perils to have cost the UK insurance industry an additional £400m.

Perils said the resulting total industry loss figure from both the storms and floods during the 2019/2020 UK winter is in the region of £775m.

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