Storm Desmond alone caused £597m in insured damages, according to new estimates
Never mind Eva and Frank – figures out today show that Storm Desmond alone cost the UK £597m in insured property losses.
While that may sound like a large chunk of cash, this third estimate to be produced by PERILS is actually a reduction on the £662m it forecast back in March.
This map, provided by PERILS, shows which areas suffered the most losses (Source: PERILS)
Storm Desmond was one of the three major storms to hit the UK last winter, with the north of England baring much of the brunt.
The Association of British Insurers has pegged the predicted payouts caused as a result of all three storms combined at £1.3bn.
Meanwhile, PwC predicted at an earlier stage that insured losses would be between £1bn and £1.4bn and economic damage would be between £2bn and £2.8bn.
PERILS will provide a fourth set of estimates on the costs of Storm Desmond in December, a year on from the storm. The insurance benchmarker will also be providing further data on the costs of Storms Eva and Frank in three weeks' time.
The UK has had 11 named storms since the weather events started being christened with more friendly-sounding monikers late last year. The most recent, Storm Katie, made her presence felt in late March. However, there are currently no signs of Storm Lawrence coming to visit soon.
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