Mr. Julian Lowe

Julian Lowe, Chairman of the UK Asbestos Working Party at the Institute and Faculty of Actuaries, hoped the reduction in payouts would deter “ambulance chasers” from mobilizing claims.

Julian Lowe (Chairman) and members of Working Party for UK asbestos - the definitive guide

Julian Lowe, Chairman, GIB

In his presentation to all conference delegates titled UK Floods, GIRO Flood Risk Working Party chairman Julian Lowe said approvals to build on floodplains meant many homeowners would face premiums they could not afford or difficulty in obtaining insurance.

Mr Lowe said: "Whilst the number of people at risk of flooding is likely to rise simply due to climatic changes, this will be exacerbated by increasing numbers of people living on floodplains.

"Ten per cent of all properties in England are located on floodplains and more than a million new homes are due to be built on floodplains by 2020," he said.

"There will potentially be many new homes in England for which insurers are not prepared to provide cover."

Flooding already costs the UK £3billion in an average year. Mr Lowe said insurers, local authorities and the wider community also needed to improve their approach and response to floods to better protect themselves.
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Mr Lowe commented that: "Whilst insurers may complain about the lack of government spending on flood defences, most insurers still offer very cheap insurance in many high risk areas.

Julian Lowe, chairman of the Actuaries' Working Party which produced the report, said: "One of our key findings is that over a third of the total cost of compensation goes in legal and administrative expenses.
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Mr Lowe added: "Some have argued that the shift towards an individual's right to compensation has forced big business and public authorities to behave more responsibly.

Julian Lowe, Chairman of the UK Asbestos Working Party at the Institute and Faculty of Actuaries, hoped the reduction in payouts would deter "ambulance chasers" from mobilizing claims.