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Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
Implications Of Climate Change For Insurance Ciwem07
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Implications Of Climate Change For Insurance Ciwem07

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Managing flood risk in the light of climate change and the impact on availability of insurance

Managing flood risk in the light of climate change and the impact on availability of insurance

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  • ABI and leading insurers have been involved in climate change debate for over a decade – and the reinsurers around twice that We reached a significant tipping point last year, through the leadership that the Prime Minister brought, putting climate change at the heart of the international political process This leadership, together with the commissioning of important studies like the Stern Review, has led to much wider acceptance of the reality of climate change, the impacts it will bring and the need for urgent action The work of UKCIP and its stakeholders, many of whom are present today, has laid the foundations for managing climate risks and the effects they will have on our daily lives This study is ABI’s latest contribution to that important work
  • Transcript

    • 1. Planning for climate change: sustainable insurance Jane Milne Climate Change Leader Association of British Insurers
    • 2. Adaptation responses needed
      • Habitable housing
      • Flexible commercial buildings
      • Risk based development
      • Reliable transportation
      • Secure energy supplies
      • Safe and secure water supplies
      • Well educated workforce
      • Healthy people
      • Resilient trading partners
    • 3. Which of these events is most important? (YouGov, August 2007, 2012 respondents) Flooding 85% 16% Drought/water restrictions 57% 32% Heatwaves 40% 27% Increased hay fever 28% 21% Subsidence 26% 8% Windstorms 23% 14%
    • 4. Which of these events is most important? (YouGov, August 2007, 2012 respondents) Flooding 85% 16% Drought/water restrictions 57% 32% Heatwaves 40% 27% Increased hay fever 28% 21% Subsidence 26% 8% Windstorms 23% 14%
    • 5. Likely insurance costs
    • 6. Summer 2007
    • 7. Extent of flooding – after 0.4m sea level rise
    • 8. Coastlines at the front line
    • 9. Hierarchy of choices for adaptation Can site/properties be located outside the floodplain? Can properties be located in the lowest flood risk areas? Can occupied areas be raised above flood heights? Are flood defences feasible/ cost effective? Identify relevant property resilience options and examine alternative flood alleviation measures. If not… If not… If not… If not…
    • 10. Managing risk
      • Actions to prevent further climate change
      • Actions to protect us from inevitable climate change
        • community and regional planning
        • development planning
        • building design
        • product design
        • institutional behaviours
        • individual behaviours
    • 11. Customers’ needs – personal lines
      • Two thirds of people say preventing climate change is their responsibility
      • Around 6 out of 10 people say protecting the UK from climate change is their responsibility
      • Around 4 out of 10 customers say they want climate-friendly products
    • 12. An industry initiative
      • Lead in risk analysis – and share our research
      • Inform public policy making
      • Support climate awareness amongst our customers
      • Incorporate climate change into our investment strategies
      • Reduce the environmental impact of our business
      • Report and be accountable
    • 13. Reducing the risk for tomorrow

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