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The University of Southampton
Insurance Law Research Group

Future directions of consumer flood insurance in the UK: a catastrophe insurance scheme in practice Event

Time:
14:00 - 18:00
Date:
25 June 2015
Venue:
Chartered Insurance Institute, London

Event details

The background to the event is the ongoing process of setting up ‘Flood Re’, a reinsurance fund designed to provide systemic support to the market for consumer flood insurance. The main stakeholders of the scheme are the insurance market and government which support the scheme each in their own way.

The setting up of the Fund raises questions and issues that should be addressed sooner rather than later, but which those directly involved may not have the opportunity or incentive to note and productively analyse. Could flaws become built into the scheme from the outset, resulting in its failure? Discussion of this very technical scheme is crucial.

The event will focus on the rights of flood victims as insurance consumers and claimants under the scheme, and will put the spotlight on the pitfalls inherent in setting up a State-backed financial services institution, dealing with small insurance claimants in the context of life-changing catastrophic events.

In a last minute change of plans, the event will now take place at Quadrant Chambers. The time remains 2 pm on Thursday 25 June 2015.

Speakers: Mateusz Bek, Professor James Davey, Johanna Hjalmarsson (all University of Southampton) and Professor Donald Thomas Hornstein (University of North Carolina), Dr Swenja Surminski, London School of Economics (subject to change without notice)

To sign up for this page, email Johanna Hjalmarsson, address jhj followed by @soton.ac.uk.

Topics

Professor Donald Hornstein: The Insurance Industry on the Cusp of COP 21: Lessons from Flood Insurance Reform in the US and UK on Risk Management, Politics, and the Prospects for a Worldwide Climate-Resiliency Strategy

Dr Swenja Surminski: Is Flood Re providing incentives to reduce flood risk?

Mateusz Bek: Flood Re(action) - underfunded and overly exclusive?

Professor James Davey: Flood Re and small and medium size enterprises

Johanna Hjalmarsson: Adding insolvency to injury - a thought experiment on the rights of consumers, third parties and flood victims

Related Staff Member

Related Staff Member

Speaker information

Professor James Davey,has notably carried out research about fragmentation of risk and the law and economics of insurance.

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