Insurers are expected to make their first major euro payout of between €20m and €25m, following the extreme freezing temperatures experienced in Ireland at the end of 2001 and during the early part of 2002.

Irish loss adjusters Aston & Associates said claims notified revealed that nine out of every ten homes were left unoccupied for at least 24 hours during the Christmas and New Year holiday period.

It said: "Consequently, losses were not discovered until substantial damage had been caused to property."

In a south county Dublin home, one family returned from a skiing holiday but could not operate the electronic entrance gates. After climbing over the railings, they discovered that the electrical power was lost as a result of water ingress. Insurers have been asked to hold a reserve of €100,000 (£62,000) against this loss.

Aston added that business and industry had not escaped either with most premises closed when the thaw set in. However, it said, timed heating procedures in industrial and commercial premises, where water pipes are largely exposed, meant that the damage was restricted.

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