LONDON (Reuters) - The cost to the insurance industry from UK claims related to damage caused by this week’s St Jude storm will be between 300 and 500 million pounds, broker Willis Re estimates.
Northern Europe was battered by hurricane strength winds on Monday, killing more than a dozen people and causing widespread disruption as power lines and transport links were cut by falling trees.
Tim Edwards, Executive Director, Willis Re UK, said damage from the storm, was comparable to ‘Windstorm Kyrill’ in 2007, for which insured losses were 370 million pounds in today’s terms, data from the Association of British Insurers shows.
“Losses from the storm were concentrated predominantly in the South of England, with significant damage coming from fallen trees - which were heavily laden with leaves because of the time of year, fallen tiles and smashed windows,” Edwards said.
Reporting by Chris Vellacott, editing by Sinead Cruise