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Member, Beacon International Group, Ltd.
LONDONClaims from severe flooding in parts of England late last month could top £1.5 billion ($3.01 billion), according to the Chartered Institute of Loss Adjusters.
London-based CILA said claims from commercial policyholders totaled about £680 million ($1.37 billion), while personal lines claims were about £825 million($1.66 billion).
CILA said there had been about 6,800 claims from businesses, averaging £1,000 ($1,475) each.
There have been about 27,500 personal lines claims.
Previously, the London-based Assn. of British Insurers had estimated total claims of about £1 billion ($2.01 billion).