Guest blog: Extreme weather is here to stay – resilience to climate threats is crucial to protect our future

This winter, families up and down the country faced the devastating impacts of flooding as storms battered the UK. We are witnessing the effects of climate change becoming more frequent and more intense, with extreme weather posing increased risks.

Climate risks will not impact places and people equally, given varying economic and social factors. Decision makers must understand who and where will be worst affected, and the extent to which those places can prepare, respond, and recover. Our recent report (Extreme weather risks: An analysis of England’s vulnerability to flooding and heat) presents new analysis to guide those decisions, using AXA’s unique claims data and independent research from Public First. We are actively engaging with Government, local authorities, the Environment Agency and others on how the report’s recommendations can be implemented.

Our findings showed coastal areas of the East Midlands, Yorkshire and the Humber, as well as areas in the South East and London, are most vulnerable to flood risks - with surface water an increasing threat. Overall, London is most vulnerable to the combined risks of flooding and extreme heat, making up seven of the 10 most vulnerable of England’s constituencies. Clearly, a major weather incident could reverberate across the whole economy.

While flood damage is more well-known, we are also seeing a rising number of claims for property damage related to extreme heat. This includes damaged appliances, warped doors and windows, cracked walls and ceilings and uneven foundations.

Our research suggests homeowners could rack up a collective bill of £818bn in the next three decades due to flooding and extreme heat alone. Yet polling conducted for the report showed 48% of homeowners have never checked to see if their property is insured against the effects of extreme heat. Worse still, more than half of homeowners said they would be unprepared to deal with flooding or the impact of heat on their property.

The planet is rapidly warming - governments globally need to take their role seriously in keeping the planet’s temperature under 1.5˚C higher than pre-industrial levels by 2100. In the meantime, accelerating adaptation is key. The Government’s ambition to build 1.5 million new homes over the next Parliament is welcome but must be supplemented by a focus on resilience.

Flood defences are key – these were responsible for saving 86% of potential overall costs of the 2019/20 winter floods. To prevent future generations being saddled with homes that could become uninsurable, the Government must close the planning loophole which allows building in flood risk areas if space is left for future defences. Delivery of defences should be timebound and rigorously enforced. Meanwhile, the Environment Agency’s flood defence capital scheme must be prioritised and protected at the Spending Review.

Adapting to extreme weather is no longer a secondary consideration but a collective responsibility that Government and businesses such as AXA should be focused on. The Government’s ambition to improve housebuilding, infrastructure and growth relies on protection against extreme weather events. Acting now to bolster these ambitions is crucial.

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