Planning for climate change:  sustainable insurance Jane Milne Climate Change Leader Association of British Insurers
Adaptation responses needed <ul><li>Habitable housing </li></ul><ul><li>Flexible commercial  buildings </li></ul><ul><li>R...
Which of these events is most important?  (YouGov, August 2007, 2012 respondents)   Flooding  85% 16% Drought/water restri...
Which of these events is most important?  (YouGov, August 2007, 2012 respondents)   Flooding  85% 16% Drought/water restri...
Likely insurance costs
Summer 2007
Extent of  flooding –  after 0.4m  sea level  rise
Coastlines at the front line
Hierarchy of choices for adaptation Can site/properties be located outside the floodplain? Can properties be located in th...
Managing risk <ul><li>Actions to prevent further climate change </li></ul><ul><li>Actions to protect us from inevitable cl...
Customers’ needs – personal lines <ul><li>Two thirds of people say preventing climate change is their responsibility </li>...
An industry initiative <ul><li>Lead in risk analysis – and share our research </li></ul><ul><li>Inform public policy makin...
Reducing the risk for tomorrow
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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

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Implications Of Climate Change For Insurance Ciwem07

  1. 1. Planning for climate change: sustainable insurance Jane Milne Climate Change Leader Association of British Insurers
  2. 2. Adaptation responses needed <ul><li>Habitable housing </li></ul><ul><li>Flexible commercial buildings </li></ul><ul><li>Risk based development </li></ul><ul><li>Reliable transportation </li></ul><ul><li>Secure energy supplies </li></ul><ul><li>Safe and secure water supplies </li></ul><ul><li>Well educated workforce </li></ul><ul><li>Healthy people </li></ul><ul><li>Resilient trading partners </li></ul>
  3. 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. 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. 5. Likely insurance costs
  6. 6. Summer 2007
  7. 7. Extent of flooding – after 0.4m sea level rise
  8. 8. Coastlines at the front line
  9. 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. 10. Managing risk <ul><li>Actions to prevent further climate change </li></ul><ul><li>Actions to protect us from inevitable climate change </li></ul><ul><ul><li>community and regional planning </li></ul></ul><ul><ul><li>development planning </li></ul></ul><ul><ul><li>building design </li></ul></ul><ul><ul><li>product design </li></ul></ul><ul><ul><li>institutional behaviours </li></ul></ul><ul><ul><li>individual behaviours </li></ul></ul><ul><li> </li></ul>
  11. 11. Customers’ needs – personal lines <ul><li>Two thirds of people say preventing climate change is their responsibility </li></ul><ul><li>Around 6 out of 10 people say protecting the UK from climate change is their responsibility </li></ul><ul><li>Around 4 out of 10 customers say they want climate-friendly products </li></ul>
  12. 12. An industry initiative <ul><li>Lead in risk analysis – and share our research </li></ul><ul><li>Inform public policy making </li></ul><ul><li>Support climate awareness amongst our customers </li></ul><ul><li>Incorporate climate change into our investment strategies </li></ul><ul><li>Reduce the environmental impact of our business </li></ul><ul><li>Report and be accountable </li></ul>
  13. 13. Reducing the risk for tomorrow

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