- Documents and publications
Disaster recovery case study: UK floods 2007
This case study on the United Kingdom floods in 2007 is part a body of work that policymakers and governments worldwide can draw on when evaluating disaster preparedness and seeking to fully understand, from the lessons learned by others, the impact of:
- displaced populations
- increasing personal debt levels
- changes in the economic mix of industry
- political upheaval
- overall time to recover
It aims to give a deeper understanding of the aftermath of disasters over a longer time frame, as well as an understanding of the impact that insurance penetration has on the pace of economic recovery. It also address the need to better recognise and explain the value of “building back better”; that is, reformative recovery where the structures are repaired or rebuilt to a higher standard to increase long-term resilience.
The insurance industry has an important role to play in ‘building back better’, to adequately price the risk and encourage policyholders to engage in precautionary measures.