AXA sees 12% increase in claims
Weather-related claims for July, the fourth wettest on record, are expected to increase.
Fortis claims and operations director Rob Smale said the weather had caused power cuts, flooding and lightning strikes.
AXA claims director David Williams said there had been a 12% increase in claims compared with July last year.
“It was not dramatic enough to cause us great concern; just a sign I think that, regardless of the cause, the climate is changing,” he said.
“As a result, we will see more peculiar and extreme weather patterns, something clearly underwriters will need to be building in to pricing.”