Insurance companies worldwide are facing higher claims from natural catastrophes, industry sources say, which they attribute to the effects of climate change and to a rise in building in areas exposed to extreme weather.— Reuters picLONDON, April 15 — Britain’s homes and businesses received £4.86 billion in property insurance payouts in 2023, up 18 per cent from a year earlier, as weather-related home claims hit a record high, the Association of British Insurers said on Monday.
Insurance companies worldwide are facing higher claims from natural catastrophes, industry sources say, which they attribute to the effects of climate change and to a rise in building in areas exposed to extreme weather.
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