July 13, 2012 by Canadian Underwriter
Global warming could almost double the number of properties at significant risk of flooding in the United Kingdom by 2035 unless loss reduction plans are put in place, argues a committee appointed by the U.K. government to study climate change.
“Current levels of investment in flood defences and uptake rates of protection measures for individual property will not keep pace with the increasing risks of flooding,” notes the report, Is the U.K. Preparing for Flooding and Water Scarcity?
Currently, roughly one in seven properties in the U.K. face some form of flood risk, with insured losses costing approximately $2.4 billion (£1.5 billion). However, climate change could increase the number of properties at risk to 630,000 by 2035 and to 1.2 million by 2080, states the report from the Adaptation Sub-Committee, part of the U.K. government’s national adaptation program.
The committee made several recommendations to curb the rising threat of flood risk, including the following:
The U.K. has experienced its wettest spring (April to June) since records have been kept. In June, it got double the average rain normally received in the month.
Since May, more than 3,000 properties have been flooded, while 55,500 properties have received a flood warning from the Environment Agency.
Flood risks have also prompted organizers for the London 2012 summer Olympics to draw up contingency plans for wet weather.
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