An investigation into flood risk insurance in the UK

Barker, Matthew (2011) An investigation into flood risk insurance in the UK. BSc dissertation, University of Portsmouth.

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    Abstract

    With flood events becoming more prominent in the UK and the astronomical costs that can be incurred in damage, management and communication of risk is important. The insurance industry plays a vital role towards safeguarding against this risk. Latest news focuses towards the expiration of the 2013 statement of principles, the agreement between Government and the insurance industry, and what shall happen post this time.

    This study aimed to investigate how flooding has impacted the insurance industry, one of the largest in the UK, and how key policy and stakeholders account for and communicate flood risk insurance. Research was carried out through analysis of established publications, such as the in-depth Pitt Review and the subsequent recommendations made by Pitt, as well as the engagement with professionals and the consumer, through interviews and questionnaires.

    This report has identified that flooding has indeed had an impact on the insurance industry with a notable level of adaption through flooding agreements with government. It was also identified that Pitt’s recommendation 31 had yet to have any notable impact on the consumer, with a significant majority having not received flood risk information from their insurer.

    The report concludes with a final reflection identifying the importance of bringing flood insurance to the consumer’s attention, whether existing or those moving into new developments. Potential future research was identified, as well as the importance of Post 2013.

    Item Type: Dissertation
    Departments/Research Groups: Faculty of Technology > School of Civil Engineering and Surveying
    Depositing User: Jane Polwin
    Date Deposited: 17 Nov 2011 16:21
    Last Modified: 28 Jan 2015 11:48
    URI: http://eprints.port.ac.uk/id/eprint/5376

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