This Working Party functions as a source of knowledge and expertise within the Actuarial Profession on matters relating to flooding with a particular focus on the UK

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

Chair Laura Evans
Membership 14
Established 2014

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 29/10/2020
End date
E.g., 29/10/2020

Events calendar

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    02-13 November 2020
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