"Insurers should brace for weather-related claims as temperatures soar and drought is officially declared across parts of England

UK insurers should brace themselves for a rise in home insurance claims as scorching weather and drought conditions create the perfect conditions for wildfires to spread in the UK.”

(Insurance Times - August 2022)

"Laser hair removal only accounted for 7% of claims but involved the most serious injuries

Eyebrow microblading and tinting blunders account for 37% of salon injury-related insurance claims, according to data published by Zurich today (8 August 2022).”

(Insurance Times - August 2022)

"A rising number of UK homes now face a greater risk of flooding as climate change continues to trigger an increase in catastrophic weather occurrences – a trend that experts expect to carry on in the future.

In England alone, there are more than 5.2 million properties exposed to flood risk, according to data from the Environment Agency (EA). The non-departmental public body predicts the figure to rise in the next few years due to increasingly volatile weather.”

(Insurance Business UK - July 2022)

"Insurance claims from companies have become more severe over the past five years due to factors such as higher property and asset values, more complex supply chains and the growing concentration of exposures in one location, such as in natural catastrophe-prone areas,” said Thomas Sepp, chief claims officer and board member at AGCS. “The future does not look bright anytime soon.”

Read the full article from Insurance Business UK here on trending commercial risks that may impact on business interruption and damage replacement costs.

(Insurance Business UK - July 2022)

"Events such as the war in Ukraine and growing inflation have “significantly altered” business leaders’ perceptions of risks, with corresponding risk resilience falling dramatically since 2021.

This is according to insurer Beazley’s latest Risk and Resilience 2021 research, published today (13 June 2022). This showed that the proportion of surveyed UK and US business leaders ranking war and terror as their biggest risk was up by 46% compared to last year’s survey."

(Insurance Times - June 2022)