NU Online News Service, Aug. 9, 3:09 p.m. EST
The Association of British Insurers (ABI) says insurers are expecting “significant losses” of more than 100 million pounds ($162 million) from damages caused by rioting in boroughs of London and other cities.
ABI spokesman Nick Starling says it is “too early for us to have an accurate picture of total costs, especially business-interruption costs,” but insurers are expecting home and commercial insurance claims as youth in the United Kingdom continue to loot businesses and commit arson as they have since Aug. 6.
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