Insurance Losses From UK Winter Could Reach $1 Billion

  Wednesday, December 8th, 2010 Source: P & C National Underwriter

The Association of British Insurers (ABI) said freezing weather in the United Kingdom could cost insurers $1 billion this winter. Last year, Britain’s insurance companies paid just over $1 billion to homeowners following the coldest winter in 30 years, the ABI said. Damages from burst pipes and leaks could total $11 million per day this year, the association warned.

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