E3S Web Conf.
Volume 7, 20163rd European Conference on Flood Risk Management (FLOODrisk 2016)
|Number of page(s)||6|
|Section||Residual risk and insurance|
|Published online||20 October 2016|
Property flood resilience database: an innovative response for the insurance market
1 Building Research Establishment, Orion House, East Kilbride, G75 0RD, UK
2 Lexis Nexis, D’Olier Street, Dublin, Ireland
3 AXA Insurance, Mark Lane, London, UK
a Corresponding author: firstname.lastname@example.org
The property flood resilience database (PFR-d) has been created through a research feasibility study undertaken by the Building Research Establishment, AXA Insurance and Lexis Nexis Risk Solutions in the UK. The project was funded by Innovate-UK and was undertaken over the period of May 2014 to August 2015. There has been a growing realisation that flood management has to move from a position where flood defence (e.g. major river barriers and drainage infrastructure) is the only solution to flood risk to one of flood resilience. This shift requires an increase in responsibility for a variety of stakeholders, including property owners. The PFR-d was conceived as a product that code fit within the existing insurance frameworks and systems. The PFR-d is a ‘missing piece of data’ for insurers that could assist in providing more appropriate insurance pricing in high flood risk areas, or where properties have suffered repeat flooding events.
© The Authors, published by EDP Sciences, 2016
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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