With the increasing impact of climate change, developing a defence flood insurance is important for the future of The Netherlands. "That is why we are proud that today, our long-standing collaboration with Royal HaskoningDHV, has developed into a partnership," says Geeke Feiter, director of the Dutch Association of Insurers.
The majority of Dutch consumers and SME’s now have property insurance that provides coverage against precipitation and local flood. Following the 2021 floods in Limburg, the number of insurers that have expanded this coverage grew considerably. However, there is no overall flood insurance for major rivers, large lakes and the sea.
In the coming years, the collaboration between the Association and Royal HaskoningDHV will focus on advising the association during the development of an insurance solution for primary defence related flood risks. In addition, the partnership aims to help insurers and their clients and financial advisors with insights, prevention and adaptation solutions for flood risks of existing insurance, covering rainfall and local floodings. Feiter: "Royal HaskoningDHV not only provides prevention and adaptation solutions and supports with technical flood risk advice, but also owns an enormous amount of data in the field of flooding end climate data. Their deep knowledge and expertise is needed to provide sustainable insurance solutions. Especially now that the risk of flooding due to extreme weather is only increasing," Feiter emphasises.
140 years of experience in flood risk management
Royal HaskoningDHV, with more than 140 years of experience in flood risk management and the design of adaptive infrastructures such as the Afsluitdijk and the Dutch Delta Programme, is a global leading consultancy and engineering firm in the field of flood risk management. Their experts operate at the intersection of flood risk management, providing highly detailed flood data for underwriting and pricing and support for flood risk prevention and adaptation.
"We are delighted with this partnership because we are keen to build a bridge between the insurance market and the engineering world," says George Peters, Global Director Climate Resilience at Royal HaskoningDHV. According to Peters, a better understanding of climate risk through data analytics and translating that information into tangible solutions is key. "Our global team has been working with public and private institutions for years. The knowledge and experience gained offer insurers the unique opportunity to design the next generation of insurance. Together with the Association we strive to make flood insurance accessible for all areas of the Dutch market.”
Detmer Koekoek, Richard Weurding, Geeke Feiter,
George Peters and Timo Brinkman.
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