More than 126,000 commercial buildings in London are at risk from flash flooding. Climate change will heighten that threat. Those are the findings of a new study by Zurich Insurance Group, which mapped every commercial and mixed use property in …
One in four UK properties are at risk of flood, according to new analysis from JBA Risk Management. The flood specialist’s new UK Flood Model, launched last week, also highlights an estimated annual cost of £527 million (US$712.7 million) to …
Flood Re, the joint initiative between the UK government and insurance industry to help make home flood insurance more affordable, has been touring flood-prone cities in the UK to highlight the resilience measures that residents and businesses can install to …
England will be hit hard by floods like those that devastated Germany this summer if the country does not improve its defense against more extreme weather brought by climate change, a governmental agency said Wednesday. In a report, the Environment …
British insurer Aviva called on Wednesday for urgent action from policymakers, developers and insurers to protect homes and businesses from the impact of climate change, saying most were ill-prepared to handle extreme weather. It said more than 570,000 new homes …
Prime Minister Boris Johnson proposed 5.2 billion pounds ($6.6 billion) of spending on flood defenses through 2027 as his government seeks to protect hundreds of thousands of British homes. Under the plan, billed as “the most comprehensive in a decade,” …
Initial insured losses for the floods that hit the UK in February are estimated at £297 million (US$367.8 milion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. These floods mainly affected northern England, Wales, and …
Insurers expect to make payments to customers hit by the recent Storms Ciara and Dennis of over £363 million (US$ 473.7 million), according to initial estimates from the Association of British Insurers (ABI). Initial ABI estimates show payouts from Storms …
Losses from storms Ciara and Dennis, which brought strong winds, torrential rain and widespread flooding to the UK, will increase pressure on UK household insurers’ profits in 2020, said Fitch Ratings. While the claims are unlikely to exceed £500 million …
Residents in central England and Wales piled up sandbags, readied water pumps and hoped for the best Tuesday as rivers peaked after a weekend storm brought up to 6 inches (150 mm) of rain to an already waterlogged region. Environment …
