UK insurance industry paid a record £1.4bn in weather-related claims during Q2, causing home insurance prices to rise.
UK insurance industry paid a record £1.4bn in claims during Q2, mainly due to weather-related incidents. Home insurance prices rose 6% to £396, with combined policies increasing 19%. Weather-related claims exceeded £100m for the fifth consecutive quarter. ABI calls for reforms in the planning system to better address climate change, urging the government to act on surface water flooding and maintain flood investments.
August 12, 2024
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