3.5m UK households at risk of "double disaster" from flooding and Covid-19 pandemic

With the summer statement set to land this Wednesday, Zurich calls for urgent action to help communities prepare for flooding. This comes as it warns 3.5million households¹ are at risk of being hit by extreme wet weather on top of dealing with the coronavirus pandemic.

The insurer urges the government to reform the £5,000 flood resilience grant scheme to help homeowners make proactive improvements to their properties to withstand future flooding and drive the green economic recovery.

Zurich’s own research suggests that investing £1 in prevention saves on average £5 in future losses².

According to the Environment Agency, more than 3.5million properties in England and Wales are at risk from some form of flooding. Of these, around one in 12 are at high risk - equivalent to 290,000 homes.

Laura McAlpine, Zurich’s Head of Public Affairs, said: “Hundreds of thousands of households have been left more vulnerable as a result of the worst public health crisis in a generation. Even relatively minor flooding would place disproportionate strain on people’s jobs, finances and mental health. If towns are hit by flooding in the coming months, the impact would be magnified, with particularly severe consequences for the most vulnerable in society.

“The scheme is ineffective as property owners can only access the grants after a flood, when the damage has already been done. Households also face a “postcode lottery”, as the funding only applies in areas designated by the government after a flood event. The grants should be made available all year round to help people in high flood risk areas protect their homes before flooding strikes. This is a ‘shovel-ready’ project that would support the government’s green economic recovery and provide a vital boost for local construction jobs.”

Zurich is also calling for the government to review and reform building regulations to create a set of “resilience standards” that the construction industry must meet when flooded properties are reinstated. This would be the most effective way to build flood resilience into homes as standard.

The UK has been struck by multiple summer floods in recent years, the worst being July 2007, which cost an estimated £3.2billion. Downpours and back-to-back storms in February this year left swathes of the UK underwater, with the damage slated to exceed £360m.

According to World Economic Forum’s 2020 Global Risks Report, published in partnership with Zurich, extreme weather is considered the top global risk by likelihood over the next ten years.

¹ Environment Agency: Number of residential homes in England and Wales at risk of some form of flooding - p9

² Zurich, 2015: Turning knowledge into action: processes and tools for increasing flood resilience

³ Properties would be selected on a means-tested basis and by using Environment Agency/DEFRA flood risk maps to determine households at high flood risk