The Independent (p9) reports that at least 11 lives were lost and travel by air, sea and rail was seriously affected.
Insurance expert Jeffrey Salmon, of Salmon Assessors, said that following continuing bad weather in some areas, he believed£400m was an accurate estimate of the loss sustained nationally.
'We also estimate that flood-damaged property worth£60m will not be able to be claimed for because it is not covered by insurance,' he said.
Despite the fact that water levels fell yesterday, many low-lying areas in south-east Wales and Devon remained under threat. The Environment Agency reported that 15 red warnings were still in place on rivers in these areas.