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Flood

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

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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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