Gross Property Insurance Claims for London Tower Fire May Reach $64M

 Friday, July 7, 2017

The London fire that killed scores of people last month could lead to gross property and liability insurance claims of 50 million pounds ($64.80 million), the company that had insured the property said. At least 80 people are dead, or missing and presumed dead, from the blaze that gutted the 24-storey Grenfell Tower block on June 14, and the final toll may not be known until next year, British police have said. Norway’s Protector Forsikring is the insurance provider for the building’s owner, the Royal Borough of Kensington and Chelsea. "Gross claims all products preliminary estimated to GBP 50 million," it said as it released its second-quarter earnings. "Figures are preliminary, uncertain and will include both property, liability and other potential related costs," it added. The figures were preliminary and uncertain so they could change, Protector said.