Britain has always been known for its rain and general gloomy weather. But in recent years we’ve also had thick snow as well as baking summers. Extremes of weather or not a unique British experience, it’s something that happens all over the world thanks to climate change.
Sizzling summers, wild winters, we’ve seen it all as our seasons seem to run from one extreme to another.
The government has set a 2050 target to reduce emissions by at least 100 per cent from levels captured in 1990. Further afield, however, progress is slow around the world.
Severe weather is becoming increasingly recurrent which can spell bad news for businesses. It can lead to a rise in weather-related incidents such as flooding. It can affect both property and contents, forcing bosses to look for alternative accommodation or temporarily putting trading on hold.
The extreme freeze in early 2018 cost UK insurers £194m over three months for burst pipe claims, while the following extreme heatwave caused over £64 million of subsidence damage.
Insurers have to stay one step ahead of the game to make sure businesses have adequate cover for the impact on businesses while protecting the industry against rising pressure.
At Gravity Risk Services Ltd, we have award-winning advisers who will be able to talk you through ways of protecting your business. Climate change is having an effect now – it’s no longer the future dystopia people once predicted.
But while governments around the world battle for a longer term solution – insurance is the best way to protect what is important to you now.
Get in touch with us for more information – blue skies are ahead!