Nasty weather brings an entire industry to its breaking point: ‘Devastating damage’

[Pelican Press 0]

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****** weather brings an entire industry to its breaking point: ‘Devastating damage’

Extreme weather events are becoming more frequent and severe around the world, from record-breaking rainfall causing floods to widespread heatwaves. In the U.K., insurance companies are paying record amounts on claims because of these climate-related disasters, making it a challenge to keep up with the surging costs.

What’s happening?

As reported by

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, weather-related damage in the U.K. was so bad in 2024 that insurance payouts beat the previous 2022 record by a whopping £77 million ($97 million), according to the Association of British Insurers (ABI). The amount paid on these claims reached £585 million ($738 million).

Insurers are blaming the consistently terrible weather. From strong winds to frozen pipes and floods, the U.K. counted about 12 major storms during the season, which is the most since 2015-2016.

Why is this surge in insurance payouts important?

With weather-related damage claims on the rise, insurance premiums are going up — especially in high-risk regions — ultimately costing homeowners and businesses more to protect their property. For example, in the U.K., insurance customers saw their premiums jump by about £55 ($70) in 2024 than the year before.

While extreme weather has always been around, scientists agree that human-driven climate change is making it worse by increasing the intensity and frequency of storms, heatwaves, floods, and other extreme weather (like the wildfires in California, for example).

The rising costs of these disasters aren’t just hitting insurance companies — it’s also affecting government funds, businesses, and everyday homeowners, increasing costs for everyone.

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What is being done about weather-related damages?

Governments, insurers, and climate advocates are pushing for steps to prevent excess damages and protect people’s homes and properties. For instance, U.K. officials have

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, although insurers believe the government should earmark even more funding. On a larger scale, initiatives like reforestation projects, improved drainage systems, and investment in renewable energy aim to address the root causes of climate change.

Innovations like flood-safe homes and fire-resistant homes are great examples of how we can adapt to extreme weather events to keep people and property safer. However, individuals can take action by reducing their carbon footprint and

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. Knowing more about

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is the first step to being part of the solution.

“Our latest data serves as a blunt reminder of the devastating damage that adverse weather can cause to people’s homes and businesses,” said Mark Shepherd, head of general insurance policy at the ABI, according to The Guardian. “Insurers are braced for these sorts of events at any time — but prevention is always better than cure.”

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