Counting the cost of Storm Babet as Storm Ciarán hits

Major incidents have been declared in a number of areas of southern England as Storm Ciarán brings strong winds and heavy rain. Hundreds of schools closed today (Thursday) while train operators have suspended or greatly reduced services, advising commuters to work from home wherever possible.

The Port of Dover suspended all sailings while flights from London’s airports have also been badly affected.

The Environment Agency had issued 65 flood warnings for England and 156 flood alerts by Thursday morning, with Natural Resources Wales warning that river levels in the far south-west of the country could be the highest ever recorded. Around 10,000 homes were without power in south-west England.

The Channel Islands have recorded the strongest winds, reaching 102mph on Jersey, where residents were evacuated and the roof of the general hospital was damaged. In France, around 1.2m homes have been left without power.

The latest storm comes as new estimates by PwC UK calculate the costs of damage due to the severe weather caused by Storm Babet to be between £450m and £650m. Mohammad Khan, general insurance leader at PwC UK, said: “Given the extent of flooding we've observed and the subsequent damage of residential and commercial properties, we project the insurance losses from Storm Babet to range between £450m-£650m.

“The significant insurance outlays suggest that additional alerts regarding the potential repercussions of Storm Ciarán in England and the Channel Islands could escalate these costs. The Met Office issued yellow and amber warnings, indicating danger to people and buildings. Forecasted winds of up to 80mph, coupled with structural damage and flying debris, may compound existing financial costs.

“While Storm Babet's severity was anticipated, Storm Ciarán could exacerbate the damage.”

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