Storm Darragh not a storm, Kidderminster man told by insurers

Published On Dec 12, 2024, 1:13 AM

Storm Darragh has caused significant damage, but insurance claims are being denied because the wind speeds did not officially reach storm levels as defined by insurers. One resident, Dennis Iliffe, was denied a payout for his damaged home despite severe local weather impacts. Experts indicate that climate change played a substantial role in the severity of Storm Darragh, making storms like it 5% windier and significantly wetter due to human-induced climate changes. This raises concerns about future storms and the responsibility of individuals and governments to address climate issues.

Stock Forecasts

Insurance companies may face increased claims as climate change leads to more severe weather. This could pressure stocks of public insurance companies if they prove to be unprepared for the volume of claims. However, companies focused on climate resilience and sustainable practices might perform better as awareness grows.

Related News

Insurers that paid claims say a deal unfairly keeps them from recouping their own losses.

Here’s what could happen if you don’t tell your insurer about any teenage drivers in your family — or try to get a separate policy for them altogether.

CNC
AIG

After Helene and Milton, some small Florida companies risk bankruptcy. Larger ones will be in the hot seat with lawmakers and consumer groups.