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Guy Carpenter develops new London flood model for insurers

Risk and re-insurance consultant Guy Carpenter & Company is to release a new flood model to assess insurance exposure in London.

Risk and re-insurance consultant Guy Carpenter & Company is to release a new flood model to assess insurance exposure...

in London.

The model will provide potential flood extents for sea surge and river flooding with and without the effects of flood defence breaching and Thames flood barrier failure.

Guy Carpenter said the model would provide the most detailed approach to flood modelling by incorporating information from the Environment Agency's National Flood Defence Database and advanced modelling technology from JBA Consulting.

"The high-precision datasets needed for flood modelling are increasingly available, but typically, processing constraints have hindered the ability to use the most detailed information," said Jane Toothill, head of Guy Carpenter's European Model Development Team.

Flood risk in the UK recently has become a matter of growing concern for the insurance industry, amid ever-increasing development in flood-plain areas and calls from the Association of British Insurers for the government to increase spending on flood protection schemes.

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