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Coastal Losses Could Double, Report By Lloyd's/RMS Warns

Rising sea levels and changing weather patterns could mean a doubling of insurance losses for properties in coastal areas by 2030 unless high-risk areas adapt by implementing aggressive mitigation

By Caroline McDonald | Updated on September 14, 2008

Rising sea levels and changing weather patterns could mean a doubling of insurance losses for properties in coastal areas by 2030 unless high-risk areas adapt by implementing aggressive mitigation measures, a new study by Lloyd’s and Risk Management Solutions warns.

“Our work over the last three years supports the view that rising sea levels is absolutely one of the most important consequences of climate change,” said Lloyd’s Chief Executive Officer Richard Ward. He emphasized that rising sea levels need to be “taken very seriously” by society and the insurance industry.

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