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Insurers set to pay millions after UK storm

Insurers set to pay millions after UK storm Northern Europe was battered by hurricane strength winds on Monday. The St Jude storm caused widespread disruption as power lines and transport links were cut by falling trees.  More than a dozen people have been killed.

At least 500,000 homes were left without power in the UK after the storm swept across southern and eastern England.

Emergency crews were hampered by blocked roads as they attempted to re-connect power supplies.

The Environment Agency issued 82 flood alerts as many parts of South West England experienced flash floods.

Millions of commuters faced being unable to get to work on time after a host of train companies cancelled all early morning and rush hour rail services and London’s Heathrow airport cancelled 130 flights.

Tim Edwards, Executive Director at Willis Re UK, said damage from the storm, was comparable to 'Windstorm Kyrill' in 2007, for which insured losses were £370million pounds in today's terms, data from the Association of British Insurers shows.

"Losses from the storm were concentrated predominantly in the South of England, with significant damage coming from fallen trees - which were heavily laden with leaves because of the time of year, fallen tiles and smashed windows," Edwards said.

It is too early to estimate the total cost of the damage but it is certain that UK insurers will be paying out huge sums to help those affected.  The great storm of October 1987 cost insurers £2billion in today's money. But floods in the summer of 2007 cost more than that: £3billion.

Loss Adjusters and Claims professionals will be at the forefront of aiding those who have suffered as a result of the recent storm. 

The St Jude storm is just one example of how vital the Risk sector is for helping people and businesses to get on with their lives.  If you’re interested in building a career that is responsible for the recovery of millions of people world-wide then check the news and jobs page for current vacancies.

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