Insurance Companies and Flood Risk: What You Need To Know

Insurance Companies and Flood Risk: What You Need To Know

The frequency and severity of flooding in the UK is on the rise, representing the most significant risk of climate change to the country’s infrastructure. In 2007, the total cost of flooding and coastal erosion to the UK’s infrastructure exceeded £700 million. By 2016, this had risen to £440 million. Global warming threatens a general temperature increase of 4 degrees celsius by the 2080s, with the annual costs to UK insurers to cover flooding predicted to reach £27 billion a year by that decade.

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