Extreme heat is no longer just disrupting business operations; it’s changing the nature of commercial insurance claims.
According to insurance experts, Everywhen, prolonged periods of hot weather are leading to an increasingly varied range of losses, from subsidence and structural movement to damaged equipment, failed refrigeration systems and even heat-related damage to buildings and business premises.
The insurer says many businesses still associate severe weather with storms and flooding but warns that rising temperatures are becoming an equally significant source of disruption.
A spokesperson at Everywhen, said:
“Extreme heat is creating risks that many businesses simply haven’t planned for. We’re seeing claims arising from issues that wouldn’t traditionally be associated with summer weather, whether that’s warped building materials, damaged electrical equipment or stock losses caused by overheating.
“As hotter summers become more common, businesses need to think about heat resilience in the same way they’ve traditionally prepared for flooding or storms.”
Everywhen is encouraging businesses to act quickly if they experience heat-related damage by documenting affected property, equipment and stock before repairs begin and notifying their insurer as early as possible, to help speed up the claims process.
Everywhen believes that the growing impact of extreme weather reflects a broader shift facing the insurance industry, with climate-related risks becoming more frequent, more varied and increasingly affecting day-to-day business operations.
“Heatwaves are no longer exceptional events,” the spokesperson, added.
“For insurers and businesses alike, they’re becoming another operational risk that needs to be understood, managed and planned for.”
