– Otto Thoresen, ABI's Director General
The flood waters may have mostly receded, but for many the distress of being flooded remains raw.
Insurers and loss adjusters are playing a crucial role in the recovery process. A badly flooded property can take months to become habitable again, so insurers continue working around the clock to ensure that the drying out process is completed as quickly and as safely as possible.
While of course this was a serious and significant bad weather event the current flood damage costs remain well below the severe floods of 2007 when insurers paid out £3 billion to customers.
Insurers say they expect to pay out more than £1 billion to people whose homes, businesses and vehicles were damaged in the recent floods and storms.