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Flood and storm damage in 2002 cost the public sector fifty percent more than in 2001, new figures released by Zurich Municipal revealed, reaching a record high of £22.5 million, almost four times the average annual cost in the last decade.
These statistics, together with the forecast that extreme weather events are increasing in frequency, make it essential for public sector organisations to prioritise their risk management procedures.
Flood risk is an increasingly important issue on the Government's agenda and through the proposed Planning and Compulsory Purchase Bill planning strategies will be reformed. However, local authorities, housing associations and schools can also contribute at grass roots level. In particular, Zurich Municipal is urging public sector bodies to reassess their current spending plans. This will ensure that funding specifically allocated by central Government is used for flood defences as quickly as possible.
As part of its campaign to raise awareness of this issue, Zurich Municipal has recommended a number of measures which can be implemented to prepare for the impact of further storms:
- Ensure all property, including drains and culverts, are maintained and in good condition - mend any damage and clear blockages immediately,
- Assess the vulnerability of light weight constructions, especially if in exposed areas; if possible replacing with more substantial constructions,
- If in a high flood risk area, do not store key items or expensive equipment at basement level,
- Investigate flood defence spending plans and look at alternative risk management measures,
- Employ a contingency plan, including a series of checklists, to ensure the safety of the building and any shutdown of equipment,
- Instigate an efficient call-out system and identify an alternative 'crisis centre' for relocation, in case of building damage.
Larry Stokes, Underwriting Manager at Zurich Municipal said:
"Storm and flood damage costs public sector bodies millions of pounds each year. Weather may be beyond our control but through managing risk steps can be taken to limit the impact. Careful planning and implementation of contingency plans make it is possible to mitigate the effects of severe weather events and reduce the damage and the costs.
"Storms, floods, gales and cold spells are increasing in both intensity and frequency. Insurers and the public sector must work together to ensure business interruption is kept to a minimum and public sector services return to normal as soon as possible."
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Notes to the editors
Zurich Municipal is the leading provider of risk management and insurance solutions to Britain's public services. The company employs over 500 staff dedicated to providing expert advice and support to public service providers. For further information visit www.zurichmunicipal.com.
The Zurich Financial Services Group is an insurance-based financial services provider that focuses its activities on its key markets of North America, the United Kingdom and Continental Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. It has offices in approximately 60 countries and employs well over 70,000 people.
For further information contact
Catherine Webster or Helen Cherns on (0)20 7535 9950 |
