“Underinsurance in property is a global and growing challenge, according to Swiss Re’s latest sigma study. Much of the underinsurance is due to global natural catastrophe risk, which has risen steadily over the past 40 years. Insurers can play a key role in strengthening the resilience of households and companies against property risk by adopting more innovative approaches. Swiss Re cite the example of the Flood Re programme in the UK, which is designed to provide affordable flood cover for properties at highest risk of flooding, as an example of insurance innovation.
Find out more about the Sigma study from Swiss Re here.”
STAR-FLOOD researchers have also looked extensively at this issue in England. Their report (and the other country reports) are now under review with the EU, but will be made publicly accessable by the end of this year.