Flooding
Value of weather damage claims revealed
Data analysis: Property insurers paid out the equivalent of £13m every day last year due to events such as storms, flooding and theft.
Lessons from a Bad Beet harvest for agricultural insurers
Could recent payouts to sugar beet farmers for revenue lost to bad weather lead to a growth in insurance options for out-of-doors crops, including parametric solutions? Edmund Tirbutt investigates.
NFU Mutual lifts the lid on cost of recent storms
NFU Mutual has urged customers to make flood-resilient repairs, after revealing £10m of flood damage was reported to it following Storm Henk last month.
Impact of hidden plastic pipework on claims costs laid bare
Analysis of more than 3000 escape of water claims by McLarens found that “trace and access” cover was required in more than half of all claims (51%).
Rental property shortage sees insurers turn to pods
A shortage of rental accommodation has resulted in providers talking to pod providers about rehoming policyholders in these structures while their homes are repaired, Insurance Post can reveal.
Axa’s Walker on providing certainty in an uncertain world
View from the Top: Jon Walker, CEO of Axa UK Commercial, says insurers’ insight is key to making this country more resilient to floods and the other effects of climate change.
Perils updates Storm Babet damage valuation to £586m
Perils stated £467m of the losses from Storm Babet and Aline occurred in the UK and were mainly flood-related.
Flood Re CEO challenges insurers to ‘go even further’ on flood resilience
At an event for the National Flood Forum and the All-Party Parliamentary Group for flood prevention, FloodRe CEO Andy Bord urged insurers to “go even further” with flood resilience.
AI-driven false information tops short-term risks ranking
Artificial intelligence-driven misinformation and disinformation has topped the World Economic Forum’s list of short-term risks, while environmental risks continue to dominate the long-term picture.
Severe weather to continue to hit UK as insurance reacts to Storm Henk
As homes and businesses face damage from floods caused by Storm Henk, predictions state that the severe weather is not yet over.
Aviva CEO Blanc awarded Damehood and ex-RSA boss Hester knighted in New Years Honours List
Amanda Blanc, the group chief executive officer of Aviva, has been awarded a Damehood in King Charles the Third’s second New Years Honours List.
Most-read insurance stories in 2023 revealed
Like Cher, Insurance Post is turning back time to remember the industry Consumer Duty’s efforts, business interruption cases continuing to rumble on, developments at Direct Line, RSA’s personal lines exit, plus the other major insurance events of the…
Why winter weather should pull insurers and contractors together
Ben Blain, property manager at Verisk, urges insurers and contractors to look at their respective schedules of pricing to prepare for the worst weather extremes of winter.
Could COP 28 leave insurers with more stranded assets?
As COP 28 kicks off on 30 November, Emma Ann Hughes examines how the race to net zero is creating stranded assets, affecting insureds and insurers.
Podcast: How climate change is transforming insurance
Climate change means the areas impacted by subsidence will double by 2050, and double again by 2080, Heikki Vesanto, manager for GIS data science at LexisNexis Risk Solutions, has warned.
How insurers dodged a bullet over storm Ciarán
Tegwen Gabb, senior weather and climate analyst at Eurotempest, reveals how close the UK insurance industry came to sustaining one of its largest insured losses of all time from storm Ciarán.
CII’s Suzi Rackley asks if it’s enough to Build Back Better
Trade Voice: Suzi Rackley, client director at Howden Private Clients and member of the Chartered Institute of Insurers’ broking board, argues the industry needs to push beyond Build Back Better to ensure the UK is flood-ready by 2039.
Tokio Marine reveals risks faced by London
London’s future is threatened by more extreme flooding and failure to keep pace with technology, according to a new study, with Tokio Marine arguing insurers should help the city prepare for cybersecurity and artificial intelligence developments.
Storm Babet to cost insurers at least £450m
Fresh estimates from PWC calculate the costs of damage due to the severe weather caused by storm Babet to be between £450m and £650m.
View from the top: Aviva’s Jason Storah on flood-proofing the UK
Jason Storah, CEO UK & Ireland general insurance at Aviva, argues that stronger planning rules are required to guard against future floods.
Insurers need to become ‘prognosticators’ in times of change
The sector has been urged to stay ahead of future developments, as the top trends forcing insurers to change pace are revealed.
Collaboration needed on climate resilience as UK must ‘get used to’ floods
Collaboration is the key to improving climate resilience, according to a panel of experts at the Chartered Insurance Institute’s Shaping the Future of Insurance conference.
A fire-free summer does not call for complacency
Paul Redington, regional major loss manager of Zurich, explains why insurers and the government should work together to create a risk map of areas vulnerable to wildfires.
Preparation is key as insurers look to avoid repeat of 2022’s storm costs
As the Met Office publishes its annual list of storm names for the upcoming storm season, insurers are looking to avoid a repeat of the financial hit the weather brought in 2022.