Munich Re data shows that since 1980 'hydrological' events have increased in frequency by nearly six times. The Potsdam Institute for Climate Impact Research found that the planet Earth experienced 12% more record-breaking downpours between 1980 and 2010 than might have been expected had the climate not been changing.
The problem is that the widespread and insidious nature of flooding means that some communities, especially in the developing world, never sufficiently recover between one disaster and the next. Locked in a circle of loss and disruption, these communities’ ability to manage and build their resilience is diminished considerably.
We have explored the topic of resilience and flood risk mitigation with insurers, risk managers, regulators, and academics, in particular looking at how insurers and regulators can introduce a more proactive approach to flood-risk assessment and mitigation. How can the insurance industry work more collaboratively with communities to address their ability to ‘build back better’ and address protection gaps?
Get in touch to find out more.