As Storm Darragh battered Britain on Saturday, with winds reaching more than 90 miles an hour, insurance industry bosses were receiving constant updates about the financial hits they faced for claims for shattered windows, damaged roofs and dented cars.
Bad weather can be treacherous for their careers. This time two years ago, when a cold snap gripped the country and homes were filled with water damage from burst pipes, it forced a profits warning from Direct Line as it was swamped with expensive claims. The departure of the FTSE 250 insurance company’s chief executive Penny James came not long afterwards.
The repercussions of her exit were still being felt this weekend as a storm of another kind swept through the insurance sector. Direct Line —