Hastings Technology

Hastings Direct recorded an almost 140% rise in subsidence claims in August as England and Wales experienced the hottest summer on record, driven by multiple heatwaves and dry springs that shrink soil and damage foundations. The Association of British Insurers says average subsidence claims hit a record £20,000 between April and June, with insurers paying £72m for domestic subsidence in that period. Firms including Aviva and Axa expect elevated claim volumes to continue into autumn and are reviewing reserves, pricing and exposure management unless sustained rainfall restores soil moisture. » Plus sur theguardian.com

A policyholder says a leak reported to Hastings Direct led to eight months of delays, poor communication and removal of kitchen units, leaving the family unable to return home. Hastings Direct acknowledged mistakes, blamed unexpected damage and contractor issues, agreed to fund reinstatement of removed units as a goodwill gesture, and set a repair programme with a tentative return date and compensation for expenses. The insurer extended temporary accommodation and committed to refunding nursery, cattery and other costs while reviewing lessons from the case. » Plus sur theguardian.com

Hastings Technology Metals plans to bring Yangibana in Western Australia into production while simultaneously advancing the takeover and capacity expansion of the Kabin Buri Hydromet plant in Thailand. Yangibana is considered construction-ready but still needs more than AUD 300 million in capital; the plant equipment is already in Perth. The Thailand plant is to be expanded to 12,000 t of mixed rare-earth chloride per year and from Q1 2027 will also process third‑party material, which is expected to generate fee income and provide potential revaluation options. Wyloo Metals is selling its 60% stake in Yangibana, which could introduce a new strategic owner as the project enters the development phase. » Plus sur de.investing.com