In a new report, the insurance company identifies areas that are most vulnerable to extreme weather, and the climate risks which may pose challenges to the government's target of building 1.5 million homes over the next five years.
London is most at risk to both flooding and extreme heat – which can cause cracking and subsidence. Sheffield is highly vulnerable to flooding but not heat, while Bristol and Birmingham homes are at risk to heat but not flooding.
Generally, coastal areas of the East Midlands, Yorkshire and the Humber, as well as areas in the Southeast are among the most vulnerable to flood risks.
The report also contains polling showing that, despite having concerns about climate-related property damage, 52% of people would be unprepared to deal with the impacts of flooding or extreme heat on their property.
“We support the government’s ambitious housebuilding target, but believe we must ensure existing homes are resilient and future-proofed, and new properties are not built in flood-prone areas,” said Tara Foley, CEO at AXA UK & Ireland.
“This is crucial to protect our future for generations to come.”
The polling also found that flooding is perceived to be the greatest climate risk in the next 10 years, followed by severe storms and rising sea levels. Concerningly, 48% have never checked if their home insurance covers them for the effects of extreme heat.
AXA UK has published several recommendations to the government, such as the appointment of a ‘minister for resilience’ to focus on the issues outlined in the report.
Other key recommendations include avoiding building homes in high flood risk areas, and encouraging and supporting home and business owners to protect their properties against flooding and heat damage.
Foley added: "This report maps out areas in England most at risk from flooding and extreme heat and calculates the associated costs, enabling decision makers to identify where future resources should be targeted and where urgent investment is needed."
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Chris Seekings is the Deputy Editor of IEMA’s Transform magazine, which is published biomonthly for IEMA members. Chris’s role involves writing sustainability-related news, features and interviews, as well as helping to plan and manage the magazine’s other day-to-day activities.