Storms Eva and Frank to cost insurers £526m – PERILS

Storms Eva and Frank which hit the UK in December, will cost insurers £526m, claims data firm PERILS estimates.

In its initial statement, PERILS said property claims from the flooding caused by Eva and Frank between 25 December and 14 January would be £526m.

Windstorm losses for the same period are estimated to be in low double-digit millions and are not part of PERIL’s flood loss estimate announced today.

This loss estimate for the Eva/Frank floods is in addition to the market loss caused by the floods from storm Desmond, between 4 and 24 December 2015, which was estimated by PERILS in its first loss report at £717m.

The record-breaking rainfall on saturated ground led to extensive surface water and river flooding from 25 December.

Peaks occurred during 26-27 December, 30-31 December, 4-5 January and 8-9 January.

The flooding mainly affected Lancashire, Greater Manchester and Yorkshire in the North of England, Ayrshire and Dumfries & Galloway in Southwest Scotland, and Aberdeenshire, Angus and Perth and Kinross in Northeast Scotland.