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Climate change

The impact on insuring flood risk

It is expected that climate change will lead to rising sea levels, increased storm activity and greater rain intensity. Each of these factors will raise the risk of floods and the potential cost of the associated flood damage.

Flooding affects more people on an annual basis than any other form of natural disaster, so why is flood insurance cover not readily available in many areas across the globe?
 
Elaine Collins (Partner) and Lucy Simpson (Senior Manager) investigate the reasons in their paper 'The impact of climate change on insuring flood risk' presented to the Institute of Actuaries of Australia at the Biennial Convention in September 2007.

Attachment
The impact of climate change on insuring flood risk (256KB PDF)
Paper prepared for the Institute of Australian Actuaries