Flood damage bill ‘could top £1bn’

The cost of recent flood damage is expected to top £1 billion, insurers have said.

The Association of British Insurers (ABI) estimated that 27,000 homes and 5,000 businesses have been affected by the torrential rains that hit the UK earlier this week.

And the body warned that the overall cost of the damage could rise further, with more bad weather anticipated over the weekend.

The scale of the flooding led to a number of insurers putting into place crisis action plans to meet demand from stricken households.

Channel 4 – News – Flood damage bill ‘could top £1bn’

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