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08/06/2004
Climate change could see insurance claims treble
Climate change could treble claims for storm and flood damages by 2050, according to an insurance industry report published today.
British insurers have warned that action over climate change is needed to ensure that insurance cover, and premiums, remain readily available and affordable.
The Association of British Insurers (ABI) report, 'A Changing Climate for Insurance', considered the impact of climate change on the business sector and its customers. It found that weather-related claims on property insurance have doubled to over £6 billion between 1998 to 2003, compared with the previous five years. The report predicts that claims could treble if no action is taken.
Changing weather patterns in the 1990’s saw a "significant increase" in the number of months of both extreme hot and wet weather. During this decade there were 34 months of extreme hot weather, compared to a previous average of just 12 months per decade. The number of winter storms crossing the UK has doubled in the last 50 years, the report found.
Other sectors of insurance, such as health, motor and liability insurance could also be influenced by changing weather patterns, the study claimed.
John Parker, the ABI’s Head of General Insurance, said: “Managing the impacts of climate change is a major challenge for society – we already live with its effects everyday.
“Insurance is in the front line of climate change. Managing risk is central to our industry, and insurers must be equipped to analyse the new risks arising from climate change, and to help customers protect against them."
However, Environment Minister Elliot Morley has said that the effects of climate change over the next few decades are now "unavoidable".
"In the UK, we are likely to experience hotter, drier summers and warmer, wetter winters, and weather extremes like the hot summer of 2003 or the heavy rain leading to the floods in 2000 may become more common," he said.
Government action includes a £100 million rise in annual spending on flood defences and the development of a 20-year strategy for managing floods. The government has also adopted the Kyoto Protocol in 2002 and made a commitment to reducing carbon dioxide emissions by more than half by 2050.
Mr Morley also said that while the government can take action to minimise the effects of heatwaves and storms, "we need to tackle - via international agreement - the causes of climate change".
(gmcg)
British insurers have warned that action over climate change is needed to ensure that insurance cover, and premiums, remain readily available and affordable.
The Association of British Insurers (ABI) report, 'A Changing Climate for Insurance', considered the impact of climate change on the business sector and its customers. It found that weather-related claims on property insurance have doubled to over £6 billion between 1998 to 2003, compared with the previous five years. The report predicts that claims could treble if no action is taken.
Changing weather patterns in the 1990’s saw a "significant increase" in the number of months of both extreme hot and wet weather. During this decade there were 34 months of extreme hot weather, compared to a previous average of just 12 months per decade. The number of winter storms crossing the UK has doubled in the last 50 years, the report found.
Other sectors of insurance, such as health, motor and liability insurance could also be influenced by changing weather patterns, the study claimed.
John Parker, the ABI’s Head of General Insurance, said: “Managing the impacts of climate change is a major challenge for society – we already live with its effects everyday.
“Insurance is in the front line of climate change. Managing risk is central to our industry, and insurers must be equipped to analyse the new risks arising from climate change, and to help customers protect against them."
However, Environment Minister Elliot Morley has said that the effects of climate change over the next few decades are now "unavoidable".
"In the UK, we are likely to experience hotter, drier summers and warmer, wetter winters, and weather extremes like the hot summer of 2003 or the heavy rain leading to the floods in 2000 may become more common," he said.
Government action includes a £100 million rise in annual spending on flood defences and the development of a 20-year strategy for managing floods. The government has also adopted the Kyoto Protocol in 2002 and made a commitment to reducing carbon dioxide emissions by more than half by 2050.
Mr Morley also said that while the government can take action to minimise the effects of heatwaves and storms, "we need to tackle - via international agreement - the causes of climate change".
(gmcg)
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High Levels Of Air Pollution In England And Wales
Public Health England (PHE) scientists are issuing advice for parts of England and Wales. In the last few days, a combination of local emissions, light winds, pollution from the continent and dust blown over from the Sahara caused a spike in the UK Air Quality Index compiled by the Department for Environment, Food and Rural Affairs (Defra).
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Northern Ireland WeatherToday:Mainly dry with sunny spells on Friday, cloudier at times in the south. The chance of the odd afternoon shower developing in the south and east. Maximum temperature 20 °C.Tonight:Any afternoon showers soon dying out to leave a dry evening with clear spells at first, but coastal low cloud, mist or fog then spreads in from the northwest. Minimum temperature 8 °C.
