image for illustration: Joanna Theobald
New research by AXA UK highlights the areas of England most vulnerable to climate risks posed by extreme weather, with more than half of those polled admitting they would be ill-equipped to deal with flooding or heat damage to their homes.
AXA writes:
- In-depth study creates a heat map of England showing areas most vulnerable to the effects of extreme weather, against the backdrop of ambitious UK Government housebuilding targets
- More than half (52%) of people polled said their homes weren’t equipped to deal with the impact of flooding or extreme heat, a lesser-known risk that can cause cracking and subsidence
- AXA UK claims data provides insight into future cost of flooding – homes most at risk face financial costs of at least £818m by 2055
New research by AXA UK highlights the areas of England most vulnerable to climate risks posed by extreme weather, with more than half of those polled admitting they would be ill-equipped to deal with flooding or heat damage to their homes. The in-depth study, combining publicly available information with claims data from AXA UK’s home and business premises insurance businesses, is a comprehensive piece of research undertaken to address the growing concern of the effects of climate change on properties across the country. These findings reveal the climate risks which may pose challenges to the Labour Government’s ambitious target of building 1.5m homes before the next Parliament.
The report identifies the areas of England where homes are most vulnerable to risks from extreme weather, with London coming top of the table for both flooding and heat. Sheffield residents are at high risk for flooding but not heat and Bristol and Birmingham homes are vulnerable to heat but not flooding. AXA UK’s research also offers critical analysis and actionable recommendations for the UK Government to achieve its housebuilding targets by identifying the areas most and least at risk of extreme weather.
The ‘Extreme weather risks: An analysis of England’s vulnerability to flooding and heat’ report was produced in partnership with research consultancy Public First and provides a climate risk index of areas most vulnerable to the combined risks of flooding and extreme heat. The index takes into account socioeconomic vulnerabilities that make some places better placed to prepare, respond and recover to extreme weather than others. Economic modelling estimates the national and regional costs of flooding for the most at-risk properties in England while a poll examines the public’s key concerns and perception of the issues.
Tara Foley, CEO at AXA UK & Ireland said:’ We know that behind every headline about extreme weather is a human story, and at AXA UK we want to protect our customers from the impact of climate change and help them prepare for the future. This report maps out areas in England most at risk from flooding and extreme heat and calculates the associated costs, enabling decision makers to identify where future resources should be targeted and where urgent investment is needed. We support the Government’s ambitious housebuilding target but believe we must ensure existing homes are resilient and future-proofed, and new properties are not built in flood-prone areas. This is crucial to protect our future for generations to come.’
To see the key findings of the report read more….
