Snow storms keep insurers busy
Royal Bank of Scotland Insurance said its rescue team dealt with nearly 10,000 calls on Monday after parts of the UK – including central London – were hit by the worst snow storms in Britain for 18 years. The number of calls was 50% up on a typical Monday in February, the insurer said.
Forecasters estimated the snow could cost the economy more than £1bn while some insurers expected claims for minor car collisions to almost double.
Broker Aon said businesses would struggle to find cover for snow-related risks. John Bell, head of claims at the company, said: “Although the impact has been estimated at a billion pounds, it is unlikely that businesses would be able to insure such risk. The causes of the losses are not those which would be quantifiable under a standard or even bespoke policy.
“It may have been a snow storm, but there has been little or no damage to property,” he said.