PrimeResi Journal’s Post

Can you still get insurance for the beach house? Is that what we need to be concerned about? MSCI data from global analysis of 50,000 properties shows increased risk of coastal flooding (storm surge), fluvial flooding (rivers bursting banks) and pluvial flooding (rainfall overwhelming stormwater drains). But it's the pluvial we have to worry about, as that is what happens in urban areas - think Valencia - and its almost 1 in 10 properties around the world. #climatecrisis #climatechange #extremeweather #flooding #valuation #valuations #risk #insurancerisk

JBA Lead Climate Scientist Dr Paul Young joins a panel discussion at the Oasis Loss Modelling Framework Ltd. Insight Conference in London moderated by Nalan Senol Cabi. 🔎 The session will provide a comprehensive overview of the current global flood risk trends and explore how catastrophe models can help capture these trends and associated uncertainties. 📅 25 April ⌚ 9:10 AM (UK time) Find out more and book your place now ➡️ https://lnkd.in/eHRJBTDr #Oasis #London #Catastrophe #LondonEvents #LondonMarket #Flood #FloodRisk #Insurance #ReInsurance #RiskModeling #RiskManagement #ClimateChange

I’m in the City of London today, attending the CoreLogic #INTRConnect Europe Conference. ☀️ Despite the UK basking in an end of season Indian Summer, it’s hard to avoid the harrowing images of flooding occurring less than a thousand miles away in mainland Europe. ⁉️Insurance is becoming ever more challenging to administer, with extreme and more regular flooding occurring. 🧐 I hope that this will be a topic of relevance discussed today. Let’s see! #floodrisk #floodinsurance #europefloods #floods #riskmanagement #ashfieldflood

Interesting to see that Nationwide Building Society are going to stop lending on some flood prone properties. The UK's socialized flood reinsurance system, Flood Re, is due to close in 15 years time. This might be a problem if you're lending for 30 years. https://lnkd.in/eiJWdD6v If you're not monitoring the Physical Climate Risk in your portfolio, then join us on the 18th of June, to find out how to get started! Register below. https://lnkd.in/esgapxuC

The Swiss Re Institute reports that global insured losses from natural disasters, including floods, earthquakes, and cyclones reached $60 billion between January and June 2024, which is 62% above the ten-year average. Additionally, this period is the second costliest on record for insured losses from severe thunderstorms, totaling $42 billion, or 87% higher than the ten-year average. The Swiss Re Institute’s Sigma 1/2024 report notes that insured losses from severe convective storms (SCS) in the U.S. have been rising at an annual rate of about 8% since 2008, though this rate is considered nominal and lower than the actual figure. Dive Deep: https://lnkd.in/g8hfTXK9. #SwissRe #NaturalCalamities #insuredloss #deepdive

43% of UK residents worry about the potential effects of floods on their home 🏠 a 2023 study by Aviva discovered. Flood risk, negatively impacted by the changing climate, carries profound implications for real estate, affecting not only property values but also collateral valuation for loans and investments over time. In our latest article, we present five key perspectives on how the escalating flood risk is shaping the future of the UK property market and associated regulations, exploring the evolution of flood maps and damages, and considering major regulatory changes over the past years. Read it now 👉 https://bit.ly/4dg5m3l #flooding #realestate #climatechange #climaterisk #finance #sustainability #innovation #physicalrisk

I have been asked several times if there is a specific time of year... "when should I worry about my pipes in the home bursting- and does it really matter?" The answer is that there is no time of year protected by the type of weather that may stop pipes from bursting inside your home. (Especially during weather changes that may not seem as severe.) There are many reasons for that. However, we see more damage during winter for obvious reasons. Depending on the situation, this can become a serious, costly mess and lower your property value. Call us at 208-947-7280 in the Treasure Valley, and let our experts come to your home to ensure you are not headed for a disaster. Never assume that what has or has not happened to a neighbor's house will happen to you. Call 208-947-7280, and we will make sure your investment is secure. Also, visit our site at https://lnkd.in/gPPnJzWM. I look forward to speaking with you! #plumbing #mitigation #flood #waterdamage #coreyrecla

🌊 Don't let your commercial properties sink! 💼 Protect your assets from the unexpected with Aurora Underwriting Solutions. In Canada's changing climate, floods are becoming more common than ever. Ensure your business is safeguarded against potential losses. Connect with us today to learn more! #CommercialInsurance #FloodProtection #RiskManagement #InsuranceBrokers #CanadianBusiness #ProtectYourAssets

Global insured losses from natural catastrophes in 2024 are projected to surpass $135 billion, marking the fifth consecutive year of losses exceeding $100 billion, according to the Swiss Re Institute. The U.S. accounted for two-thirds of these losses, with Hurricanes Helene and Milton causing nearly $50 billion in damages. Europe and the Middle East faced $13 billion in insured losses, primarily from Central European floods caused by storm Boris. Key drivers of the rising loss burden include economic growth, urbanization, increasing rebuilding costs, and the intensifying effects of climate change. https://lnkd.in/erYCDyZ5

😱 What horrors might your next home be hiding? 🔔 Property Searches can reveal a whole host of nasty surprises. Commissioning your searches as soon as your offer is agreed will put YOU in control. Find issues BEFORE you spend a fortune on surveys and fees whilst wasting months. Don't get too emotionally invested in a property without these answers! 🔍 A TPO (tree preservation order) may prevent the beautiful extension you may be planning 🔍 Contaminated land, Ground stability and Radon gas - may need remediation 🔍 Flooding - Flood risk now adversely affects millions of properties 🔍 Planning - is a solar or wind farm going to be built that spoils your views? Be sure to visit our FREE to use Hazard Checker before going ahead https://wix.to/o97rZdN