Global weather complications due to climate change are set to change the landscape of insurance in coming year, more broadly, insurers will increasingly be coping with the consequences of greater volume of heat waves, drought and major ﬂoods which will accompany the climate change that is already certain to happen.
These more extreme forms of weather will have wide-ranging effects on property, agriculture and mortality rates but such losses will continue to be heavily skewed towards certain geographies and climates with greater risk of hurricanes in North America and ﬂooding in Europe and parts of Asia being key areas of concern for UK-based insurers.
These changes will be just as relevant for insurers’ asset management activities as their underwriting operations. Winter windstorms in northern Europe have caused some of the most expensive weather damage in recent years. Dagmar, Berit, Friedhelm, Joachim, Ulli and Andrea between them cost insurers about £1.4bn in 2011/12. And the heavy snowfalls of winter 2010/11 cost the UK economy alone about £4.8bn.
Lack of preparation is the reason for some of the cost – the result of property damage, transport problems or power outages and problems with business continuity. With that in mind, here’s some tips on how to prepare a defence against flooding if your sports or social club is in a flood risk zone:
- Sandbags: contact local builders’ merchants for stocks of bags and sand.
- Exterior walls: check the pointing, and apply water-proofing sealant to exterior walls
- Floors: raise damp-proof brick courses. Seal floors or replace wooden floodboards with concrete with a damp-proof membrane. Be aware that water can enter where the floor and walls join
- Air bricks: buy automatic flood-proof air bricks or specially designed covers that are easy to fit over air bricks when flooding is expected
- Drains and pipes: fit non-return valves to drains and water inlet and outlet pipes. This will prevent wastewater from flowing back into the property through sewerage pipes for ground floor toilets and sinks
- Landscaping: landscape garden areas and driveways to help divert water away from your property
For more advice about how to plan for your insurance future, contact Club Insure by completing our contact form or calling 0844 488 9204.