With an expected £200 million in claims to be paid out by the industry due to damage caused during the riots, Insurance is in the limelight. As emotions continue to run high the ABI have stepped in and offered help to the Government and police authorities while dealing with the issue of compensation. With the ABI’s experience and contacts it aims to help by having its senior claims directors and actuaries give advice.
The ABI made a statement after Prime Minister David Cameron's announced that insurers can try to claim back legitimate claims for riot damages.
The ABI director general Otto Thorensen said: "The insurance industry is already paying out claims to people with insurance, but wants to do more to support the government in helping people get back on their feet."