A High Street Investment Killer?

Alistair Ross Explains Why Flooding Could be an Existential Threat to Town Centres Without Climate Action

When: 19th - 20th June 2024
Where: Glasgow
Cost: Tickets for as little as £185 (+VAT) with the ‘ALL IN’ special offer.
Booking Information: Available Here

The warning signs have been there for a couple of years.

On the other side of the world, a city called Lismore in New South Wales, Australia, suffered two devastating floods in the Spring of 2022. The first flood caused immense physical damage to businesses and homes. But the second flood brought a realisation of the level of vulnerability to repeat extreme weather events. This was a game changer.

With a new understanding of the dangers of repeat extreme weather events, insurance firms effectively withdrew, leaving businesses to fend for themselves meaning huge obstacles to rebuilding, reopening and attracting new investment. This was not a problem we envisaged ATCM members experiencing for some time…… until now.

Storms Babet, Ciaran and Debi, in quick succession, wreaked havoc across the UK and Ireland. The Association of British Insurers states this period of turbulent weather led to insurance companies paying out over half a billion pounds to households and businesses due to the damage caused. With record rainfall, insurers are already cautious about continuing to protect vulnerable town centres which is making the business community nervous.

Flooding is putting high street investment at risk. And with extreme weather predicted to get worse, we need to get ahead of the challenges to maintain vibrancy and protect local economies.

Alistair Ross, Assistant Director, Head of Public Policy (Scotland, Wales & NI) at the Association of British Insurers (ABI)

At Summer School 2024, ‘Innovation in Town and City Climate Action’ we will hear from an organisation better placed than any other to understand the risk to investment from extreme weather. Alistair Ross, Assistant Director and Head of Public Policy of the Association of British Insurers, confirms for day one of ATCM’s flagship conference.

Alastair is a member of the Public Affairs team responsible for the ABI’s engagement with the Scottish Parliament, the Welsh Parliament, the Northern Ireland Assembly, and their respective governments. He joined the ABI in March 2016 from Pinsent Masons LLP where he was Director of Public Policy for the law firm. He is a Fellow of the Chartered Institute of Public Relations, and an alumnus of the US Department of State’s International Visitor Leadership Programme.

Book now to benefit from this important keynote talk.