The UK’s largest insurer has reported a rise in subsidence claims after an extremely hot summer, leaving households across the country to deal with the fallout from the growing climate crisis.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: The UK’s largest insurer has been hit by a rise in subsidence claims after an extremely hot summer left households across the country grappling with the fallout from the growing climate crisis.
Aviva said on Friday it had experienced the jump amid an industry-wide surge in households filing subsidence claims with their insurers to cover repairs, which are typically needed for cracks, sloping floors, and off-kilter doors and windows.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: Aviva said on Friday it had experienced the jump amid an industry-wide surge in households filing subsidence claims with their insurers to cover repairs
Aviva experienced a peak subsidence period between July and September, with claims continuing into October, according to an interview with chief executive Amanda Blanc. Aviva did not provide further detail on the scale of the increase.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: Aviva experienced a “peak subsidence period” between July and September, with claims continuing into October, its chief executive, Amanda Blanc, told Bloomberg in an interview on Friday.
Blanc said homeowners could reduce the risk of subsidence by keeping a close eye on drains, pipes and gutters, and fixing any leaks that could affect the ground under homes.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: Blanc said homeowners could reduce the risk of subsidence by keeping a close eye on drains, pipes and gutters, and fixing any leaks that could affect the ground under homes.
Hastings Direct said it received record subsidence claims in August, up 140% compared with a year earlier, and Axa, one of the UK’s biggest home insurers, has said it has been a surge year for subsidence.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: Axa, one of the UK’s biggest home insurers, has said it has been a “surge year” for subsidence.
The average subsidence claim in the UK hit a high of £20,000 between April and June, more than £2,000 higher than a year earlier, according to the Association of British Insurers. Insurers paid out £72m for domestic subsidence claims, compared with £60m in the same period last year.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: The average subsidence claim in the UK hit a high of £20,000 between April and June, more than £2,000 higher than a year earlier, according to the Association of British Insurers.
The British Geological Survey estimates that up to 11% of UK homes, more than 4.2m houses, could be at risk by 2070, with older properties with shallow foundations and those built on clay-rich soil facing the biggest threat. Despite the claims rise, Aviva reported a 19% rise in general insurance premiums to £11.8bn in the third quarter.
Source: UK’s biggest insurer hit by rise in subsidence claims after record hot summer. Supporting passage: Millions of homes are at risk of subsidence because of the worsening climate crisis, according to the British Geological Survey, which estimates that up to 11% of UK homes – more than 4.2m houses – could be at risk by 2070.
Uncertainty: Aviva would not provide any further detail on the scale of the increase in claims.
Uncertainty: The British Geological Survey figure is an estimate of homes that could be at risk by 2070, not a current confirmed count.
Uncertainty: The source does not give a total number of subsidence claims received by Aviva.