STORM DAMAGE

Two huge storms that battered the Caribbean and US will push up the cost of insurance here, said industry giant Hiscox.

The firm yesterday revealed it expected to shell out nearly £170million in claims for damage wrought by hurricanes Harvey and Irma.

The total cost of hurricanes that have devastated the region in recent weeks has been put at £150billion.

Hiscox admitted that costs would be felt in “non-affected lines”, which could mean higher rates for small business, home and other insurance which it provides.