Insurers Taking Steps to Reduce Flood Risks Worldwide, Triple-I Report Finds
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Thursday, September 22, 2022
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"Risk transfer is just one tool in the resilience toolkit," said Sean Kevelighan , CEO, Triple-I, in the report,Stemming A Rising Tide: How Insurers Can Close the Flood Protection Gap.
Key Points:
- "Risk transfer is just one tool in the resilience toolkit," said Sean Kevelighan , CEO, Triple-I, in the report,Stemming A Rising Tide: How Insurers Can Close the Flood Protection Gap.
- Establishing a mindset focused on resilience and pre-emptive mitigation will require advances in two broad categories, according to Triple-I's report.
- Data and Communication: A 2022 Capgemini Research Institute report found few insurers are currently on course to achieve climate resiliency even as improved data tools have increased insurers' comfort in covering flood risks.
- Collaboration and Innovation: Triple-I's paper cited Flood Re , a partnership between the U.K. government and insurers, as an effective way to install flood resilience measures.