Aviva CEO cautions about building homes in flood zones due to increasing flood risk
According to BBC Business, Aviva CEO Amanda Blanc cautions that building homes in flood zones is illogical as flood risk rises. She cites numbers such as 115,000 new homes expected to be built in flood zones over the next decade and 6.3 million homes and businesses in England at risk of flooding, with Aviva research indicating growing risk for 2022-2024 new homes. The piece discusses policy context and Aviva’s stance on infrastructure investment and pension-related considerations.
Key facts
- 01Amanda Blanc thinks it is pointless to build new homes in flood zones because flood risk is rising.
- 02An estimated 115,000 new homes will be built in flood zones over the next decade.
- 03Around 6.3 million homes and businesses in England are at risk of flooding.
- 04Aviva research shows that about one third of homes built in 2024 will face some level of flood risk by 2050.
- 05The frequency of extreme rainfall events experienced in the UK in 2023-24 has increased in the context of global warming, consistent with estimates from the Met Office.
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- New UK homes in flood-risk areas could become uninsurable, says Aviva boss · The Guardian Business
- Warning more homes will be uninsurable due to flood risk · BBC Business