Insurers face £219m bill as heatwave drives surge in subsidence claims
The record-breaking heatwave in summer 2022 has led to an increase in subsidence claim payouts, according to figures from the Association of British Insurers.
The ABI calculated that insurers expect to pay £219m in subsidence claims made in 2022 – the highest bill since 2006. It set the average subsidence claim incurred at £9,600 and flagged that of the 23,000 subsidence claims, the majority – 18,000 – came in the final six months.
54%Ecclesiastical Insurance's Jeremy Trott reported that claims were up 54% on the previous year, and that this is the highest number since 2018
Last summer’s heatwave, which peaked with temperatures reaching 40
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?