Flood insurance developments in Europe: fit for the future?
On the 23rd and 24th of October, Dr Swenja Surminski, Senior Research Fellow at the London School of Economics (LSE) participated to the 6th Extreme Events and Climate Risks seminar organised by the Geneva Association in New York.
Whilst the seminar aimed at deepening the knowledge pool on the impacts of climate change on different regions around the globe, Dr Surminski was invited to address the flood insurance developments in Europe.
On this occasion, Dr Surminski was interviewed and talked about current developments in flood insurance in Europe, the role of insurance in disaster risk resilience and partnerships. She outlined that the key to achieve successful partnerships lies in having a better understanding of roles and responsibilities of stakeholders. In her views, that’s a fundamental first step that needs to be clarified before stakeholders start contributing. In this regard, Dr Surminski highlighted the contribution of the ENHANCE project.
Watch the interview for more insights!
“Not enough has been done to deal with escalating losses. We have pressures on social and economic trends, buildings appearing in wrong places, in flood risk areas. But at the same time we have climate change and unless that’s really factored in, the insurance schemes are not gonna be fit for the future”, says Dr. Swenja Surminski.
Note to readers:
- The Geneva Association is a leading international think tank of the insurance industry.
- Speakers’ presentations are available online.
- Dr Swenja Surminski is involved in the ENHANCE project and leads one of the 10 case studies covered by the project: Flood risk and climate change implications for MSPs.
- Swenja Surminski published an article: The Role of Insurance in Reducing Direct Risk – The Case of Flood Insurance has been published in the International Review of Environmental and Resource Economics, volume 7, number 3-4 on January 2015.