Key objectives:
- develop the Profession’s position on UK flooding – including but not limited to insurance matters (this would cover affordability, availability and related matters such as resilience and planning)
- produce reference material for UK actuaries when considering flood in pricing, capital modelling, reserving or related areas such as:
- Relevant factors to consider when selecting and using a model
- Variety in flood events
- Considering climate change
- build on the body of previous work to improve the understanding of flood risk amongst the industry, government and public including:
- producing a GIRO paper (2015) (and digestible summary) to raise awareness amongst the profession of flood related issues
- making our findings available to the wider insurance community and to inform debate, via participation in third party events
- press releases in coordination with other relevant working parties and sub-committees
- gather data and opinions from the industry to inform the above
- work with industry bodies to report on market developments (availability and affordability of flood insurance) following the expected launch of Flood Re in mid 2015.
Outputs:
2019
Technical Issues in General Insurance (TIGI) 2019: G1: Pricing Workshop - Flood Working Party
2018
GIRO Workshop E: How will we Achieve Affordable Risk-Reflective Pricing?
2017
GIRO 2017 Workshop D1: Flood Re One Year On, Are We Doing Enough?
2016
GIRO 2016 Workshop A7: Flood Re and the Future of Flood Insurance
2015
- GIRO 2015: Flooding - Working Party update
- Update from the Flood Working Party (CIGI, 2015)
- Pricing 2015
| Chair | Laura Evans |
|---|---|
| Membership | 14 |
| Established | 2014 |
Related documents
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Guidance for Member-Led Research Working Parties
9 November 2017
Contact Details
If you want more information about this research working party please contact the Communities Team.
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This session will examine the megatrends and themes driving the Future of Work across the Financial Services industry, and how Covid-19 has accelerated new future work priorities with a particular focus on hybrid work and leadership mindset and capabilities.
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
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