Keoghs has warned insurers to up plan for an increase in subsidence claims following this summer’s heat wave.
A recent forecast by buildings consultants OCA UK warned 2013 was likely to be a “full blown subsidence event year” unless the rest of August is extremely wet.
Insurers spend an average of £200m to £300m each year on subsidence claims, with costs rising to £400m in event years – when periods of particularly high rainfall are followed by very dry periods.
“Given that a surge in subsidence claims in 2013 is a realistic probability, insurers are advised to begin to budget planning for an increase in subsidence claims spend over the next 24-48 months,” said Matthew Rogers, a partner at the legal services firm.
One in five homes are at risk of subsidence according to the British Geological Survey.
For a second year running, Ashbourne Insurance of Hoddesdon have been voted by its customers as one of the most outstanding businesses …
1 Apr 2019
Uncertainty remains on whether the UK leaves the European Union without a Withdrawal Agreement (a ‘no-deal Brexit’), if this happens, UK motor …
6 Mar 2019
The Spotlight Theatre in Hoddesdon, Hertfordshire was the venue for last year’s ‘Ambition 2018 Sales & Marketing Conference’ as organised by big-hearted …
14 Jan 2019