Thursday, February 28, 2008

Representatives from the British insurance industry have said that the cost of the earthquake which hit Britain early yesterday could be over 10 million GBP. The Association of British Insurers has said in a statement that the cost for the earthquake is “likely to run into the low tens of millions of pounds.”

The Senior claims manager at the UK bank Norwich Union has described the damage by saying that at the moment most insurance claims regarding the earthquake describe “minor damage such as tiles off roofs, breakages inside the homes and brick walls collapsing.” It has also been reported that approximately 1,200 insurance claims were made in the first twelve hours after the earthquake hit Britain.

These reports come one day after the United Kingdom was hit by a 5.2 earthquake. Tremors were reported as widespread as Edinburgh, Manchester, Sheffield, Middlesbrough, Cambridge, London, Birmingham and Southampton .