Flood risk and insurance

new interview with insuretv

The summer months of 2021 have seen significant flooding around the world.

Much of Europe was affected by unprecedented rainfall; provinces throughout China experienced a record-breaking rainy season and Typhoon In-fa; and the US eastern seaboard was inundated following the landfall of Hurricane Ida.

Scientific evidence suggests that these flood events are likely to increase in severity and frequency in future due to climate change, compounded by increased urbanisation and asset value. In fact, the World Weather Attribution group concluded that human-induced climate change is likely to have impacted the recent Europe floods, making these types of flood events up to nine times more likely and the rainfall up to 19% more intense.

In an interview with InsureTV, JBA Executive Chair, Simon Waller, provides an introduction to flood risk and discusses its impacts for the insurance industry.

Watch the full video below.

Flooding poses a significant risk to people and property in almost every country worldwide. JBA's collaborative team of scientists has helped the re/insurance, financial services and International Development sectors to understand and manage this risk for over a decade, including:

  • Insurance risk selection, underwriting and pricing
  • Reinsurance pricing and accumulation management
  • Solvency requirements
  • Mortgage origination
  • Asset screening and exposure management
  • Disaster risk resilience, response and preparedness.

If you'd like to find out how we can help you, get in touch with the team.