Lloyds is expecting to pay £60 million in flood damage claims

Britain went through the wettest December in recorded history where at least 16,000 homes were flooded.

Now Lloyds Banking Group, which insures around one in seven homes in Britain under the Lloyds Bank, Halifax and Bank of Scotland brands, tells Business Insider that it expects to pay out £60 million ($85.5 million) in claims for 10,000 households which were victims of severe storms and flooding.

Craig Thornton, Lloyds Banking Group’s Director of General Insurance, said that half of these payouts were made in December alone. Thornton saw the damage first hand, visiting customers whose homes and communities were badly affected around the Carlisle and Calder Valley areas.

“These families will not remember the festive period as they would have wished, with widespread flooding forcing them out of their homes, destroying their possessions and leaving them in need of help to sort out the mess,” Thornton said in a statement sent to Business Insider.

“It was therefore our number one priority to do everything we could and as quickly as possible to help all of our affected customers through this difficult time.

“Our dedicated claims teams worked overtime, including cancelling Christmas holidays, to respond to the emergency and help deliver on our promise to customers that we will be there when they need us most.”

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