Arson
Arson remains a large cause of large fire losses in commercial premises.
Following the Grenfell Tower tragedy, an independent review of fire safety in buildings was completed, which culminated in a report that identified the need for significant reform.
House fires sparked by candles have hit their highest level in more than a decade as people cut back on electricity to reduce soaring energy bills.
Such unpredictable and extreme weather prompts the recurring question, whether this will be a year where insurers see an overall increase in the number of subsidence claims reported to them.
There are several factors that now make indexation more important than ever. One factor is the significant rise in demand for building materials, and disruption to the global supply chain caused by the pandemic and national lockdowns. Certain elements of Brexit and local shortages of suitable labour are also affecting rebuilding and claims costs.