2023 flood insurance claims in the UK reach a record £573M, with flood claims averaging £16,905; climate change intensifies flood risks.
Flood insurance is vital for UK properties, especially those in high-risk zones, as 20% of UK properties are flood-prone. Over the last decade, floodplain development increased by 12%. In 2023, insurance claims for weather-related damage hit a record £573M, with flood claims averaging £16,905, a 53% increase from 2022. Climate change exacerbates flood risks, highlighting the importance of flood insurance.
April 27, 2024
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