Challenges to the Insurance Industry caused by Escape of Water

Introduction
The ABI estimates that the 2015 floods cost Insurers £1.3 billion. The ABI also estimates that in terms of escape of water, Insurers pay out £2.5 million every day! During this event we will look at flood events in the UK, the launch of Flood Re and the challenges to the industry caused by escape of water.

Learning Objectives
At the end of this Lunch and Learn, participants will have been provided with:
• An Overview of the operation of Flood Re
• An insight into the December 2015 flood surge and the lessons from previous events
• A summary of escape of water as a peril and what is being done to understand and tackle it's causes and effects.

More about our speaker
Paul started his insurance career as a graduate trainee and has been handling property claims for over 25 years. His Head Office claims experience at some of the UK's leading Insurers has also included managing major Motor, EL, PL and Professional Indemnity exposures.
Paul joined Zurich from AIG and previously worked at Aviva where he managed the largest UK property claim in their history. Since joining Zurich, Paul has overseen a number of high profile property claims including a £12 million fire in London and a £20 million construction loss.
Paul has sat on several UK insurance industry committees, and was a member of the market group that successfully prosecuted the Buncefield explosion recovery action. Paul sits on the ABI Fire & Escape of Water Working Group, and is current Deputy Chairman of CILA's Property Special Interest Group.