Surface flood risk to rise in 80% of European countries

JBA Risk Management has launched a comprehensive set of global climate change tools to help risk managers, insurers and lenders to understand future flood risk in any country in the world. 

Mainland Europe, under a mid-century, intermediate warming scenario could see a 14% increase in river flood loss, and a 23% increase in surface water loss with nearly 80% of European countries observing an increase in surface water loss.

Judith Ellison, Climate Change Commercial lead, JBA Risk Management, commented: “As the world’s focus turns to COP27 the launch of our new suite of tools demonstrating how diverse the impact of climate change will be in terms of flood loss and reduction around the world could not be timelier.

“The data not only reveals the complexity of flood risk around the world, and within different countries and regions, but will provide the industry with the insights and knowledge it desperately needs.”

The climate change flood insights can be used by the (re)insurance market to inform future pricing strategies, quantify changes to portfolio-level exposure, develop new insurance products and compare changing flood risk in different territories around the world, as well as meet ESG and regulatory requirements.