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.
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
There have been many occasions over the years where we are quoting insurance solutions for a new client or an existing renewal …
11 Jan 2019