Around the World: United Kingdom

Insurers eye floods cost

The British insurance industry faces a hit of up to $165.4 million from last week's floods in northern England, the Association of British Insurers said yesterday. The total is based on the current tally of about 1,000 claims, an ABI spokesman said, adding that the damage estimate could be revised in the days ahead.

The latest loss estimate is about one-third of the bill picked up by the insurance industry following severe flooding in the summer of 2007.