UK insurers pay out record £585m for weather-related damages in 2024

Michael Holder
clock • 3 min read
Credit: iStock
Image:

Credit: iStock

Damage to homes and businesses from extreme weather events is leading to rising pay outs as the climate crisis intensifies, the latest data shows

Insurers are estimated to have paid out a record £585m for weather-related damage to people's homes, businesses, and possessions in the UK last year, as the costs of climate change continue to rise alongside...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose the membership package that's right for you and your organisation, via our 3 membership levels.

Join now

 

Already a BusinessGreen member?

Login

More on Risk

How failing to invest in climate action today could cost the world a third of its GDP

How failing to invest in climate action today could cost the world a third of its GDP

Boston Consulting Group highlights the 'massive opportunity for humanity' from accelerating climate action today to avoid future catastrophe

Michael Holder
clock 12 March 2025 • 7 min read
Research: A quarter of future global GDP at risk by 2050 under 2C global warming scenario

Research: A quarter of future global GDP at risk by 2050 under 2C global warming scenario

Climate policies must account for faster-than-expected warming by 2050 amid significant uncertainties and underpowered mitigation efforts, actuarial experts warn

Michael Holder
clock 11 March 2025 • 4 min read
'This problem is becoming worse by the week': UK economy faces $141bn of stranded fossil fuel asset risks

'This problem is becoming worse by the week': UK economy faces $141bn of stranded fossil fuel asset risks

UK Sustainable Investment and Finance Association warns $2.28tr of fossil fuel assets could be at risk of stranding by 2040, as the clean energy transition accelerates

James Murray
clock 06 March 2025 • 6 min read