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UK insurers face $210 million bill from Yorkshire floods

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Insured losses from the Yorkshire and Midlands floods are expected to reach £110 million ($210 million), according to the Association of British Insurers (ABI).

The ABI says insurers have already made more than £1.2 million ($2.3 million) in emergency payments to homeowners and businesses affected by last month’s event.

More than 4000 claims have been lodged, including about 2250 for damages to homes and businesses.

“Now the floodwaters have receded, the hard work begins. Insurers and loss adjusters are working around the clock to ensure homes and businesses are fully dried out, so that repairs can start as soon as possible, and people can get their lives back together,” ABI Assistant Director Mark Shepherd said.