The long hot summer of 2018 resulted in a sharp increase in subsidence insurance claims totalling £64m in only three months, according to the Association of British Insurers (ABI).
More than 10,000 UK households made claims in July, August and September, which is the highest level of subsidence claims since the record-breaking heatwaves of 2006 and 2003.
Comparing it to the previous quarter, the ABI said the number of claims increased from 2,500 to 10,000 and rose in value from £14m to £64m.
- Andy Fairchild exits Broker Network
- Ed appoints broking CEO
- Members surprised at Fairchild’s Broker Network exit
- InsurTech: Meet the tech insiders
- Stackhouse Poland buys Property Insurance Initiatives
- Broking success: Toby Clegg, chief executive officer, Clegg Gifford
- Call for evidence on discount rate setting welcomed