Last month's storms and high winds, Storm Kyrill, which hit much of the UK, cost insurers £350m, the ABI said today.
Claims were from damage caused to homes, businesses and vehicles.
Nick Starling, the ABI's director of general insurance, said: "Insurers responded very quickly to help customers affected by last month's bad weather. Events like this are exactly why people take out insurance. Costs may run into millions, but insurance remains very competitively priced".
The ABI has reassessed the cost of bad weather incidents using today's prices.
The most expensive major incidents are:
1. The high winds occuring throughout the country during January and February 1990 - insured cost £3.3bn
2. Hurricane force winds that hit south east England over 15-16 October 1987 [ commonly known as 'the great storm' ] - insured cost £2bn
3. Flooding throughout much of England during autumn 2000 - insured cost £915m.
