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PERILS pegs insured loss from Febuary’s UK floods at £297mn

3rd April 2020 - Author: Charlie Wood

Catastrophe insurance data provider PERILS has estimated the insured loss from the UK floods in February 2020 at £297 million.

The February 2020 Floods were the result of record-breaking rainfall on saturated grounds which led to extensive river flooding.

Heavy rainfall was mainly associated with the three named storms of Ciara, Dennis and Jorge.

River flooding affected the English regions of West Midlands, North West and Yorkshire and the Humber, as well as Wales and parts of Northern Ireland and Scotland.

PERILS

While an estimated 4,800 properties were damaged many other locations were successfully protected by flood defences.

The resulting losses to the insurance industry were the largest for a flood event since the winter floods of December 2015, which cost the industry £1.1 billion at the time.

Combined with the flood losses in November 2019 and losses from the 2019/2020 windstorm season, PERILS estimates that the UK insurance industry suffered a total loss of approximately £650 million from flood- and wind-related events during the 2019/2020 winter period.

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