Bill For Flood Damage 'Could Top £1.5bn'

Economic losses caused by the flooding that has devastated parts of Britain could top £1.5bn, experts believe. Insurers are expected to shoulder the bulk of the burden after first Storm Desmond and then Storm Eva saw waters swamp large swathes of the country, according to accountants PwC. PwC's Mohammad Khan said: "We would give a very initial estimate of economic losses of between £900m and £1.3bn, with the insurance industry bearing between £700m to £1bn of this.