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How climate change will increase the risk of subsidence, coastal erosion, landslides and sinkholes

30 June 2021

Online
How climate change will increase the risk of subsidence, coastal erosion, landslides and sinkholes

CPD Certified

IUA market briefing events are certified as being suitable for CPD purposes. To obtain a self assessment form for any particular event please email Deborah Finch (deborah.finch@iua.co.uk). These forms will be issued after each individual event upon request.

This mini-market briefing will highlight how the insurance market can understand and manage ground risks including subsidence, landslides and coastal erosion.

Description

Climate change is increasing the costs of ground risks to the insurance industry with many of the existing approaches to assessing hazards being outdated or incomplete. Most approaches do not assess the full range of these (often hidden) ground risks.

UK weather records indicate that summers are already becoming hotter and drier which can lead to an increase in subsidence. Relying on historic data as a guide to short-term future risks is becoming an increasingly risky approach as previously unaffected areas of the country are now seeing a growth in claims. In addition, coastal erosion caused by rising sea levels, storm surges and stronger waves are fast becoming a real challenge for many insurers. Erosion risks also occur inland with natural and man-made slopes, abandoned mines and hazardous sinkholes having a devastating impact on property and land.

How climate change will increase the risk of subsidence, coastal erosion, landslides and sinkholes

At this market briefing, our speaker will discuss the key hazards that insurers and reinsurers should be aware of and how understanding and managing the risks will help to minimize the impact and identify new opportunities for the insurance market.

Speaker

  • Dr Tim Farewell, Science and Communications Director, Terrafirma
  • Event Chaired by Alex Mitchell, Property Team Leader, Commercial Insurance UK and Chair of IUA Property Underwriting Group

Details

Date:
30 June 2021
Time:
2:00pm - 2:30pm BST
Category:
, ,

Venue

This is an online event

Organiser

International Underwriting Association
Phone:
+44 (0)20 7617 4444
Email:
info@iua.co.uk
Website:
https://www.iua.co.uk/

Other

CPD text
IUA market briefing events are certified as being suitable for CPD purposes. To obtain a self assessment form for any particular event please email Deborah Finch (deborah.finch@iua.co.uk). These forms will be issued after each individual event upon request.
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