UK FEBRUARY FLOOD LOSS ESTIMATE RISES TO £375M

Insured property losses from February’s floods in the UK are estimated at £375m by Perils. The loss is an increase on Perils’ previous estimate of £297m, which was released in May 2020. The floods, which mainly affected Wales, the Midlands, Yorkshire and the Humber, were the result of record-breaking rainfall associated with three named storms, Ciara, Dennis and Jorge. An estimated 4,800 properties were flooded. The total cost of floods and storms during the 2019/2020 UK winter season – including two further flood events in November and December - is estimated at £775m. Zurich-based catastrophe claims company Perils will release an updated estimate for the February floods on February 29, 2021, twelve months after the event end date.