St Jude’s day storm to cost industry £830m

Loss reporting agency Perils has estimated the St Jude’s day storm has caused insured industry losses of £830m ($1.36bn).

The October storm battered parts of the UK and Western Europe, with most of the losses coming from Denmark, Germany and Holland.

The loss makes it the worst European windstorm since the 2010 Xynthia event.

Perils collects and aggregates the property insurance pay-outs from insurance companies following a windstorm.