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UK riots to cost insurers tens of millions: ABI

Three nights of rioting in London and other major British cities are likely to cost insurers "tens of millions of pounds", a spokeswoman for the Association of British Insurers (ABI) said on Tuesday.

world Updated: Aug 09, 2011 14:41 IST

Three nights of rioting in London and other major British cities are likely to cost insurers "tens of millions of pounds", a spokeswoman for the Association of British Insurers (ABI) said on Tuesday.

"It is too early for us to have an accurate picture of total costs, especially business interruption costs, but insurers are working hard to deal with claims coming in which will give a sense of the level and cost of damage," Nick Starling, ABI director of general insurance and health, said in a statement.

Large parts of London have been damaged after three nights of riots, looting and arson by masked, hooded youths that wrecked shopping streets in many parts of the capital and spread to other cities.