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

Events calendar

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    Available to watch globally in November.
    02-13 November 2020
    Spaces available

     

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    Webinar
    2 December 2020

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    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Data Science in Banking - Opportunities and Risks

    Webinar
    3 December 2020

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  • Autumn Pensions Webinar: Cash is King - What next for CDI?

    Webinar
    4 December 2020

    Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Autumn Pensions Webinar: Legal update - The letter of the law

    Webinar
    7 December 2020

    Spaces available

    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

  • Autumn Pensions Webinar: Impact of Dividends

    Webinar
    8 December 2020

    Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report. 

  • An update from the IFoA’s Covid-19 Action Taskforce [ICAT] Risk Management workstreams

    Webinar
    25 January 2021

    Spaces available

    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.