St Jude storm aftermath to cost the insurer 65 million

Storm affects driving conditions

In a follow up to previous reports on the St Jude storm. News circulating today is that the aftermath of the devastation caused in many countries will have an effect of £65 million on insurers.  The St Jude storm which caused power outages, gas explosions, injuries and fatalities to at least seven reported people has left a saddening and devastating effect on the likes of Southern England, Holland, Denmark and many other countries that were affected by the storm.  This kind of devastation and cost is not unknown to the RSA as in the past Canada have been hit hard with heavy rainfall and damage from previous storms and bizarre weather activity costing the RSA $83 million.

Cost to be as bad as the St Jude storm?

The reported costs of the devastation for the St Jude storm are set to cost the insurer around $65 million. Compared to the cost of what the RSA suffered in June in Canada this is slightly less than the cost to the insurer in Canada, but still a huge price tag for the insurer to pay out from the absolute chaos that was caused by the St Jude storm. Out of all the countries affected Southern England was surprisingly affected the least out of all involved.  Yet, the damage that was wreaked during the time is still set to cost a huge amount.

The real costs of the St Jude storm

Although the storm is going to set the insurer back by £65 million, we think that the real cost was the reported seven life’s taken at the hands of the storm. Many injuries and damaging long lasting effects were caused during the time of the storm and the price tag on insurers does not help matters either. The storm also wreaked damage and chaos on all types of insurers, for thing’s  such as home damage, as a lot of homes globally were reported to have had a lot of damage to roofing and other items in the home and owners property such as cars and motorbikes. This will be a lot of money that St Jude storm has brought on to the insurer not to mention the chaos caused.

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