Storm Bert's Financial Impact Looms Large in Britain

Insured losses from Storm Bert in Britain are estimated to reach between 250 and 350 million pounds, according to PwC. This figure largely encompasses flood-related claims. The storm, which caused significant flooding and fatalities, has forced businesses to halt operations and incur property damages.

The financial repercussions of Storm Bert in Britain are expected to be substantial, with insured losses estimated by PwC to fall between 250 and 350 million pounds. These figures reflect the impact of extensive flooding on residential properties.

PWC's estimate surpasses that of Morningstar DBRS, which predicted a lower range of 150 to 200 million pounds. Over the weekend, Storm Bert swept across the nation, leading to substantial water damage and claiming four lives.

Home insurance claims will primarily drive these losses, due to the destruction wrought by flooding and gusty winds. Additionally, businesses face interruptions and damage to their stock and property, according to Mohammad Khan of PwC UK. The situation might worsen with Storm Conall poised to inflict further damage.

(With inputs from agencies.)