Monday Apr 08, 201305:27 PM GMT
2012 floods cost UK an estimated £13bn
Mon Dec 31, 2012 10:46AM
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The recent months’ downpours in Britain have cost the country £13 billion due to flooding of houses and major disruptions to the transport network.

Flooding in Britain’s wettest year on record made the country’s economy suffer a £12 billion loss in the summer and autumn and is expected to cost another £1 billion during the Christmas period, the Association of British Insurers (ABI) estimated.

The Association said £13 billion will be the damage caused if all 29 million British workforce go on strike for two and a half days.

ABI spokesman Malcolm Tarling said insurer companies are expected to pay only £800 million to the flood-stricken, but the indirect cost that covers disruptions to tourism as well as working hours’ losses and delays is much higher.

“Knock-on flood costs can be a lot higher the insured costs, covering issues such as business interruption, alternative premises hire, transport disruption and tourism impact,” Tarling said.

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