Insurance Europe has responded to the European Commission’s consultation on its fitness check of the Floods Directive.
The Directive has had an overall positive impact on increasing Europe’s preparedness to increased flooding, specifically in the areas of risk awareness and risk reduction.
While the Directive has been successful in fostering a risk management approach, there are areas for improvement. For example, there is a need to embed the impact of climate change in all sources of floods within flood risk and hazard modelling. Additionally, land use and spatial planning by member states should be better integrated within flood risk management frameworks as effective preventative measures.
Insurance Europe added that, as most flood losses are triggered by torrential rain, pluvial as well as fluvial flooding must be modelled and considered within the overall flood risk management framework.
Insurance can also play a positive role in the context of floods by reinforcing preventive measures and improving economic recovery post-disaster. Furthermore, much can be done by member states to encourage people to purchase appropriate insurance cover against floods and natural perils from an insurer in their territory.