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R & SA may pay out up to £110m

Royal & SunAlliance said this week it expects to pay out between £80m to £110m as a result of the recent flooding and storms across the country.

The insurer said it was possible premiums may rise in badly hit areas but did not think there would be a general rise across the industry.

R&SA chief executive Bob Mendelsohn says: “Reports that it will cost the industry more than the great storm of 1987 are way off base. This is the equivalent of what a large hurricane in the US would cost us.”

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