Disasters Spur Investment in Flood and Fire Risk Technology

upstart writes:

Disasters spur investment in flood and fire risk tech:

When Storm Babet hit the town of Trowell in Nottingham in 2023, Claire Sneddon felt confident her home would not be affected.

After all, when she bought the property in 2021, she was told by the estate agent that a previous flood the year before, which had reached but not effected the property, was a once-in-a-lifetime event, and that flooding measures to protect the properties on the cul-de-sac would be put in place.

However, when Storm Babet tore through the UK two years later, Ms Sneddon's home flooded after several days of rain.

"We knew there would be water on the cul-de-sac but no one expected it to flood internally again. However, water entered the property for five hours," she says. "It reached to the top of the skirting boards. We had to have all the flooring, woodwork and lower kitchen replaced, which took nearly 12 months." Their final insurance bill was around 45,000. She says they were fortunate to have qualified for a government scheme providing affordable insurance for homeowners in areas of high-flood risk.

While it might be too late for Ms Sneddon and other homeowners, new tools are being developed to help people and companies assess climate risk.

[...] Last December, the UK Environment Agency updated its National Flood Risk Assessment (NaFRA), showing current and futureflood risk from rivers, the sea and surface water for England. It used its own data alongside that of local authorities and climate data from the Met Office. It also brought up to date the National Coastal Erosion Risk Map (NCERM). They were both last updated in 2018 and 2017 respectively.

The new NaFRA data shows as many as 6.3 million properties in England are in areas at risk of flooding from rivers, the sea or surface water, and with climate change this could increase to around eight million by 2050.

"We have spent the last few years transforming our understanding of flood and coastal erosion risk in England, drawing on the best available data... as well as improved modelling and technological advances," says Julie Foley, director of flood risk strategy at the Environment Agency.

"When we account for the latest climate projections, one in four properties could be in areas at risk of flooding by the middle of the century."

The Environment Agency plans to launch a portal, external where users can check their long-term flood risk. Similar resources exist for Scotland, Northern Ireland, and Wales through the ABI.

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