UK riots to cost over 200 million pounds - ABI
LONDON |
LONDON Aug 11 (Reuters) - Damage caused by riots in London and other British cities this week will cost more than 200 million pounds ($323 million), the Association of British Insurers said on Thursday, doubling its previous claims estimate.
The increased loss estimate came as British prime minister David Cameron said an 1886 law that allows insurers to pass on some of the financial burden of riot-related claims to the police will apply.
"The UK insurance industry is committed to working in partnership with the government and the police to play its part in helping businesses and communities recover from the damage," the ABI said in a statement. ($1 = 0.619 British Pounds) (Reporting by Myles Neligan; editing by Paul Hoskins)
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