The FloodFlash annual magazine: the flood problem in Britain
Authored by Floodflash
Introducing the 2023 FloodFlash magazine! This year, the magazine is all about our smart sensor and the flood problem it solves. 80% of the world’s flood losses aren’t insured, and the problem is getting worse. With the help of our smart sensor, FloodFlash can provide cover to those at risk from flooding. In the first blog from the magazine, we cover the flood risk in Britain, attitudes towards flood insurance, and take a look at the 2022 floods in focus.
The flood risk in Britain
For our 2022 risk report (see here for the whole report), we collated industry leading data from Ordnance Survey, JBA, and the Environment Agency to understand the threat that flooding poses to UK businesses. We also surveyed 500 financial decision makers either at risk of flooding or worried about the risk of flooding, and 200 insurance brokers to find out what they think about the flood insurance landscape.
How many commercial properties are at risk from flooding?
In Britain, there are around 1.6 million commercial properties. Over a quarter of these have at least a low flood risk. Low risk means a property in a 1,000-year zone. Over an example 20-year occupancy the chance of the property experiencing a flood in one of those years in 1 in 50.
To read the full article from Floodflash, CLICK HERE
