Flood specialist JBA Risk Management has warned about the risks associated with the failure to use good quality data and sophisticated climate change intelligence to understand the impact of floods on physical assets that would impact investors’ portfolios negatively.
Between 2018 to 2022, worldwide losses from flooding were estimated at $300 billion, but only 15%, or approximately $45 billion was covered by insurance, highlighting the vast flood protection that exists globally.
The firm warns that as the “incidence of flooding rises as a result of climate change, the associated costs to both businesses and public bodies will also only continue to increase.”
Peter Brazil, Business Development Manager, Investment Markets, JBA Risk Management, commented: “JBA’s flood risk intelligence and expertise can help investors navigate through, and understand the full impact of, climate change on their physical assets to ensure there are no unquantified risks in their…
