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News
Parametric moves beyond weather as Howden Re builds dedicated practice
1+ week, 5+ hour ago (392+ words) Insurance Business Parametric moves beyond weather as Howden Re builds dedicated practice Record allocations in a soft market signal that parametric is now a standing part of reinsurance programme design Parametric reinsurance allocations reached record levels in 2026 despite the softest…...
UK subsidence claims hit record as hottest summer leaves lasting damage
1+ week, 3+ hour ago (384+ words) Subsidence claims in August hit their highest monthly level on record at Hastings Direct, the Guardian reported. Volumes were almost 140% higher than in the same month last year. The surge follows five heatwaves layered on the warmest spring ever recorded…...
UN says "supersized" El Niño is coming. UK insurers may already be out of runway
1+ week, 4+ day ago (176+ words) The World Meteorological Organization says the current El Niño is intensifying faster, and further, than its earlier forecasts suggested. UN secretary-general António Guterres has described the situation as a danger zone of extreme weather. For insurers, it's a redistribution of…...
Specialist capacity restored for UK thatched and leisure property risks
2+ week, 6+ day ago (321+ words) Brokers placing thatched homes, static caravans, park homes, and beach huts have faced a shrinking pool of willing underwriters for several years. A new three-year capacity deal announced this week gives specialist managing general agent (MGA) Pen Underwriting the backing…...
Met Office thunderstorm warnings put flash flood cover in the spotlight
3+ week, 3+ hour ago (460+ words) Insurance Business Met Office thunderstorm warnings put flash flood cover in the spotlight England recorded its driest July since records began in 1836. When the storms break on ground this hard, standard flood wordings face their toughest test The Met Office…...
Londoners find ‘horrendous’ cracks in their homes after successive heatwaves
3+ week, 23+ hour ago (1002+ words) The development could lead to increased insurance premiums and depressed house prices LONDONERS are facing historic levels of subsidence risk after five successive heatwaves dried out the clay soil on which much of the city is built. Insurance claims tied…...
Europe's heatwaves expose insurance gap as business losses mount
3+ week, 3+ day ago (776+ words) A large part of Europe is in the grip of its fifth heatwave of the summer. That includes France, where temperatures in parts of the country have soared to 40 degrees Celsius, triggering a wildfire in the southwest. Monte Francis has…...
Europe's heatwaves expose insurance gap
3+ week, 3+ day ago (182+ words) A large part of Europe is in the grip of its fifth heatwave of the summer. That includes France, where temperatures in parts of the country have soared to 40 degrees Celsius, triggering a wildfire in the southwest. Monte Francis has…...
Summer storms to test UK flood cover on parched ground
3+ week, 6+ day ago (355+ words) Thunderstorms forecast for parts of the UK this week carry a flash flooding risk that the record dry summer has made worse, according to the BBC. The Met Office has warned that heavy showers falling on parched ground risk producing…...