UK flood insurance losses hit five year high following November deluge

Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, today releases the latest edition of its monthly Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during November 2012. The report reveals that the United Kingdom was subject to a period of torrential rain during the month, which killed at least four people and damaged more than 1,100 homes. A report from professional services firm PricewaterhouseCoopers noted that the floods were likely to cost insurers as much as GBP500 million (USD800 million).