A Journey Through Flood Risk: Insights from Zurich’s Expert Webinar
10/25/2024
In a world increasingly vulnerable to the impacts of extreme weather, understanding and preparing for flood risk is paramount. Zurich Resilience Solutions and Zurich Insurance recently hosted a webinar titled "A Journey Through Flood Risk," bringing together experts and stakeholders to discuss the challenges and strategies associated with flood risk management. The session offered invaluable insights into flood trends, preparedness, and recovery, aimed at helping organisations better manage flood risk.
Setting the stage: The growing threat of flooding
Alix Bedford, Risk Proposition Manager at Zurich Insurance, started the webinar by stressing how important it is to tackle flood risk now. Alix said, "Extreme weather has been at the top of global risk concerns for years, with flooding being the main weather-related risk in terms of impact in the UK." Recent flooding events in Europe and the UK show how urgent this is, affecting communities indiscriminately and necessitating a collective approach to risk management. The webinar attracted a mixed audience, including customers and partners from both public and private sectors. Alix emphasised the importance of early consideration of flood risk, long before weather warnings are issued. The session promised to offer practical advice on preparing for flood and storm events, as well as recovery strategies.
Understanding Flood Trends and Risks
James Harvey, a climate risk resilience specialist, shared insights on flood trends and their effects. Data shows that flooding costs the UK an estimated £1.1 billion annually, with the average cost of a claim around £100,000. These figures show that flooding is a serious and costly issue. Recent events have shown an alarming increase in flood alerts and warnings. The 2023-2024 storm season had 12 named storms, the most since 2015, moat of which resulted in flooding. The Association of British Insurers' studies show flood claims are rising, pointing to more frequent and severe flooding. Looking ahead, climate data suggests that the frequency and magnitude of all sources of flooding will only increase. This will likely lead to the overtopping of flood defenses and flooding in previously unaffected areas.
The session aimed to equip organisations with the knowledge and tools to become more resilient to flooding and recover quickly.
Preparation and Types of Flooding
Ralph De Mesquita, a senior property risk engineer, discussed the importance of accurate flood risk assessments. People often underestimate their flood risk, even in previously affected areas. Understanding the potential depth and impact of floodwater is crucial for effective preparation.
Ralph explained 3 types of flooding:
- River flooding: Water levels can rise dramatically.
- Surface water flooding: Happens when heavy rain overwhelms drainage systems.
- Coastal flooding: Most damaging when storm surges hit during high tides.
Early Warning Systems and Mitigation Measures
Effective flood risk management relies on timely early warning systems. James discussed various options, from local observations to advanced technical solutions. In the UK, we have national flood warning systems for river flooding, but not for surface water flooding. Private systems, such as those offered by Previsico, can fill this gap.
James outlined three ways to reduce flood damage:
- Maintenance: Keeping existing water management systems in good shape.
- Resistance: Using barriers and flood doors to keep water out.
- Resilience: Accepting some water will get in and using flood-resistant materials and raised electrical systems to reduce damage.
Response Planning and Recovery
Having a proactive flood response plan is essential for minimising damage and ensuring quick recovery. Your plan should cover actions to be taken before, during, and after a flood event. Importantly, you must consider the well-being of people, as flooding poses significant physical and mental health risks. Zurich’s flood resilience toolkit is designed to help customers recover quickly and build back more resiliently. This approach, known as "build back better," includes implementing flood resistance and resilience measures during the reinstatement process.
Conclusion
The webinar concluded with a Q&A session, addressing concerns ranging from the effectiveness of flood barriers to the financing of build-back measures. The experts stressed the importance of a holistic approach to flood risk management, combining strategic planning with practical measures. Our flood guide and ongoing support services are invaluable resources for organisations looking to enhance their flood resilience. As extreme weather events become more frequent and severe, proactive flood risk management is not just advisable but essential.
For more information about anything discussed in this article please get in contact with James Harvey, Specialist Risk Engineer, Climate Resilience, Zurich Resilience Solutions james.harvey@uk.zurich.com
