Bracing for rising tides: Mitigating imminent flood risks
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By Cheng Xin Yap, Tharan Ganesan, and Tananya Santipinyolert
Recent floods in major cities around Southeast Asia and other parts of the world have reopened the conversation on flood coverage in insurance products. This year alone Malaysia, Pakistan, and South Korea have all witnessed the worst floods to hit their shores in decades. As it stands, it is estimated that only 18% of all economic losses from floods in the past decade were insured.
Why is flood coverage so underinsured? Asia-based Milliman consultants, Cheng Xin Yap, Tharanitharan Ganesan, and Tananya Santipinyolert offer some perspective in this recently published article entitled “Bracing for rising tides: Mitigating imminent flood risks”.
The article also discusses why the insurance industry is best positioned to help governments develop solutions that meet each country's unique flood risk.
You can read or download the article here.
For further discussion on the subject of this article, please reach out to your usual Milliman consultant or Cheng Xin Yap at firstname.lastname@example.org