Storm Henk will spike insurance claims this time, but extreme weather events require longer-term thinking Insurance Storm Henk will undoubtedly cause a spike in insurance claims, but response to rising extreme weather events require a new approach going forward, experts have warned. The storm that battled the UK this week has caused flooding, damaged property and delays to travel as a result of rain and winds up to 80mph. This will [...]
Rain, storms and floods: UK insurers rocked by record £1.4bn property claim surge insurance British insurers have been rocked by an eye-watering £1.4 billion in property claims for Q2 2024, smashing records as the biggest quarterly payout ever logged by the ABI
Severe flooding could cost insurers more than £1bn this winter Flooding Severe flooding this winter could cost UK insurers more than £1bn, according to analysis from PwC. Storm Eunice in February led to insurers losing £200-300m, mainly as a result of disruption to travel and damage to properties and vehicles due to falling trees. However, floods on the same scale as those seen in 2015 [...]
Eton: Thames Water sewers flood as £46,000-a-year school forced to delay term January 10, 2024 Thames said “recent heavy rainfall, along with high groundwater levels and river flooding, caused our local sewer system to overload.
Storm in a spinning teacup: Butlin’s sues Aviva over definition of flooding April 28, 2024 Butlin's is suing Aviva over the definition of a storm, after serious flooding forced it to shut its largest resort.
Explainer: Our misconceptions about housing are so ingrained that councils are blocking new flats for fears of floods in 80 years June 27, 2023 In the latest example of how far the tensions in housing can reach, North Devon Council just refused to approve new flats because they might be victims of flooding in 2105. Which is in more than eighty years. The flats wouldn’t even need to be built; we’re talking about empty floors above a former hairdresser’s [...]
When it rains, it pours: Storm Christoph strikes up to £120m of insurance damage across the UK January 22, 2021 UK insurance losses could reach up to £120m in the wake of Storm Christoph with Wales hit the hardest, according to a PwC insurance leader. Residents have been forced to leave their homes and a major incident declared in Wales after enduring the highest rainfall of the four UK nations. Around 80 people, including care [...]
Lloyd’s Lab Central Fund boosts tech firms Axio and REOR20 February 12, 2024 Lloyd’s of London has named the two companies receiving the first investments from its Central Fund private markets allocation.
London routes disrupted by extreme weather as Storm Babet batters Scotland October 20, 2023 London transport routes were disrupted on Friday, as severe adverse weather and heavy rain continued to cause problems on the rail network. Network Rail told City A.M. there was severe disruption on services to and from King’s Cross, due to flooding in Grantham. According to National Rail’s website, other routes affected by the bad weather [...]
Global insurers left with $50bn natural disasters bill after wave of severe US storms August 9, 2023 Global insured losses from natural disasters have reached $50bn so far this year, with severe US storms accounting for almost 70 per cent of the costs, according to new data. The main driver in the spike in insured losses was severe thunderstorms in the US, which accounted for 68 per cent, about $34bn, of all [...]