Wednesday 27 February 2008

"Costly payout after earthquake"

Oooh! Big Numbers!

"The Association of British Insurers (ABI) said claims were "likely to run into the low tens of millions of pounds"

Although this "Earthquake [was] felt across much of the UK", 'low tens of billions' is still barely one percent of one year's buildings insurance premiums (premia?) of around £3,000 million (page 4, 25 million households x 64% x £188 per annum). Such earthquakes only happen every few years anyway.

So, yet another BBC non-story, eh?

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