According to new figures from the Association of British Insurers (ABI), the cost of fire damage in the UK rose by 16% last year to a record £1.3 billion.

Commercial fire damage cost £865m up 15% on the previous year, school fires alone cost £33m and fire damage to homes cost £408m, up 17% from the previous year.

There has been a particular increase in what are termed large loss fires (those over £500,000) and the ABI intend to research the causes of this increase although fraudulent arson and arson will generally be factors to consider.

Nick Starling, the ABI’s director of general insurance and wealth said “These are alarming figures, they highlight both the importance of fire insurance and reducing and managing the fire risk”.