Insurance Executives Consult With UK Government Over Flood Costs, Payouts
London — Insurance chiefs were called in for talks with the British government on Tuesday about payouts over the widespread flooding that has left thousands of homes submerged, amid signs that bills could run into hundreds of millions of pounds.
River levels are expected to fall gradually this week, though the misery is unlikely to end any time soon for the towns and villages affected. With groundwater levels high after the wettest January since 1766 in southern England, it could take several weeks for water to drain away from flooded land.
Insurance industry chiefs held a first monthly meeting with floods minister Dan Rogerson at the Cabinet Office ministry in London.
Insurers have paid out £14 million ($23 million, 17 million euros) since December in emergency claims, typically between £500 and £3,000. A further £24 million has been paid out for emergency accommodation, according to the Association of British Insurers (ABI).
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