Eco properties and insurer risks
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Market Insight 12 December 2024 12 December 2024
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UK & Europe
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Climate Change
The last ten years have been confirmed as the hottest decade on record for the planet, with 2023 being the warmest since global records began and 2024 now on track to exceed that record [1].
Undeniably, this is caused by climate change. As well as resulting in catastrophic storm damage and fires destroying homes, in 2023 climate related economic losses in Europe were €13.4 billion [2]. 2024's extreme weather in the UK alone has led to the largest quarterly pay-out for insurers in the last seven years [3].
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