ABI claims home fires rise 17% and business fires up 15%
ABI figures show that the cost of fire damage in 2008 rose by 16% on 2007 to a record £1.3bn - £3.4m every day.
The figures show that in 2008:
- Commercial fire damage cost £865m, up 15% on the previous year.
- School fires alone cost £33m, with a serious school fire occurring every month on average.
- Fire damage to homes cost £408m, up 17% on the previous year.
Nick Starling, the ABI's director of general insurance and health, said: "These are alarming figures. They highlight both the importance of fire insurance, and reducing and managing the fire risk.
"We know that arson tends to increase during an economic downturn. Insurers are reporting a rise in large-scale fires that are increasingly putting lives at risk. We believe that arson and fraud are contributing factors. We are investigating this worrying trend, and will be publishing our recommendations for tackling the problem later this year."
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
