Literature Network » Charles Lamb

UK drivers may pay the price for Katrina.

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From: The Daily Mail (London, England)
Date: 20050906
Author:

CHARLES Lamb, head of Lloyd's insurer Amlin, warned that car and household insurance premiums could rise if the bill for Hurricane Katrina ends up at the 'top end' of current estimates.

These put the total cost at $20bn-$40bn ([pounds sterling]10.8bn-21.7bn).

Lamb argued that as the tab for the storm rises, Amlin and other reinsurance groups could raise their 'wholesale' rates, 'potentially putting pressure on writers of insurance policies' such as Norwich Union.

But the Association of British Insurers said the Hurricane was 'not going to have an immediate impact on ...

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