Urgent Warning: Most UK Companies Unprepared for Flood Risks, Says Previsico
In the UK, many businesses are alarmingly unprepared for the heightened threat of flooding due to climate change, as highlighted in Previsico’s ‘2025 State of Flood Resilience’ report. This crucial flood resilience report emphasizes the urgent need for organizations to enhance their preparedness against the increasing frequency of extreme weather events.
Key Findings from the Flood Resilience Report
Previsico’s CEO, Jonathan Jackson, stated, “Flooding is no longer a distant possibility—it is a present and growing reality.” He urged businesses to recognize and adapt to the impacts of flooding, noting that while awareness is growing, significant action is still lacking. Here are some critical statistics from the report:
- 43% of businesses have already experienced flooding.
- Less than 30% have an established flood response plan.
- Only 8.16% feel extremely confident in managing flood situations.
- A mere 12% believe they are well-prepared for extreme weather conditions.
- 87% of businesses are particularly worried about surface water flooding.
- 65% lack early warning systems for flood events.
The Importance of Parametric Insurance
Worryingly, 93% of companies do not utilize parametric insurance, which can provide faster financial recovery through trigger-based payouts. This absence of proactive measures may hinder businesses from recovering effectively from flood-related damages.
Insights from Experts
The report was shared during a panel discussion featuring notable figures such as conservationist Chris Packham, Estelle Herszenhorn from WRAP, and Karl Limbert from Equans. Chris Packham emphasized the adaptability of humans, stating, “We are conscious of the damage we are doing and we ought to be addressing that.” He highlighted the broad and significant impacts of flooding on infrastructure and agriculture, reflecting the overall sentiment of urgency in addressing the climate crisis.
Next Steps for Businesses
To improve flood resilience, businesses should:
- Develop and implement comprehensive flood response plans.
- Invest in early warning systems to anticipate flooding events.
- Consider parametric insurance options for quicker recovery.
- Stay informed about the latest climate data and risks.
For further insights and expert opinions, you can visit InsurTech Analyst.
By taking these steps, UK businesses can better prepare for the realities of flooding and contribute to a more resilient future against climate change.
