The recovery operation for Storm Babet is expected to cost over £500million, with the Chartered Institute of Insurers predicting that the bill for storm-related damage will be the highest of its kind yet seen.
Angus and Aberdeenshire have been the areas worst hit by the storm with hundreds losing their homes.
Insurers were already anticipating a spike in claims over the weekend from customers in northeast Scotland who have lost everything in the floods.
The last time Scotland was handed a red Met Office weather warning was in November 2021 during Storm Arwen.
Insurers said the final bill for this mainly wind-related damage was around £300 million.
Experts predict the damage from Storm Babet will be worse, prompting the Government to intervene and lower repair costs.
Businesses damaged and destroyed last week by Storm Babet could receive more than €70,000 under proposals set to go to Cabinet.
The Irish Examiner reported that senior Government members, including Taoiseach Leo Varadkar and Trade Minister Simon Coveney, were working on the final details of the package on Sunday night.
A senior Government source said it is “pushing for assessed and audited payments in excess of €70,000 for the businesses worst affected by Storm Babet”.
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It is expected around 100 businesses that were flooded across Cork and Waterford could be in line for the enhanced payment which will be administered by The Red Cross.
This new flood relief scheme will run alongside an existing one which offers payouts of between €5,000 and €20,000 which will be maintained for most companies.
Energy distributor SSEN has shared details of how those who experienced lengthy power cuts due to Storm Babet can claim money back.
Scottish and Southern Electricity Networks – who deliver power to the north of Scotland – say they are making good progress in reconnecting the tens of thousands of homes cut off during the height of the storm.
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Some 33,000 homes that were impacted have now been reconnected, but 1,100 homes were still without power on Saturday morning.
Different amounts are available depending on how long someone has been disconnected. Those who have been disconnected for more than 12 hours could be eligible to claim expenses.
SSEN say they will cover expenses of up to £30 per person to cover the cost of food and drink for every day they are without power. Any customers who lost power for more than 48 hours will be entitled to £80 in compensation.
A further £40 will be given out for every six-hour period households were without supply, up to a maximum of £2,000.
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