Perils cuts Eva-Frank loss estimate to £538mn

Modelling agency Perils' latest insured loss estimate for
storms Eva and Frank is £538mn ($797mn), down 7 percent from
its previous projection.
The storms caused widespread flooding in the UK in late December
and early January.
They followed slightly heavier losses from the Desmond floods
between 4 and 24 December 2015, which Perils has estimated will
cost insurers £597mn.
Of the combined £1.14bn in losses from both events, the
majority (62 percent) stemmed from commercial clai