PUBLIC GROUP AND INTERNATIONAL REINSURER
Irma reminded us how vulnerable
the overseas territories are
to hurricanes and other risks such as
volcanoes, earthquakes and mudslides.
These territories are equally
affected by global warming.
To this end, CCR is conducting a study to measure the impact
of climate change on the natural risks
affecting the overseas territories.
According to forecasts made by the IPCC
the number of hurricanes and events
is expected to decrease between now and 2050 on the whole.
We estimate 30,000 events will occur
using current climate data
compared to 26,000 using future data,
over a period of 400 years.
However, the severity of these events is likely to increase
with fewer hurricanes but of greater intensity.
Also, these hurricanes will carry more rain and
the consequences will be catastrophic in terms of flooding
and in terms of marine submersion since,
as we all agree, sea levels will continue to rise.
For its part, the Overseas Senatorial Delegation
is about to complete a two-year study
on the territories' major natural risks.
After a 2017-2018 session that focused
on risk prevention and event management,
The 2018-2019 session will address
the issues of reconstruction,
post-event compensation and the
long-term resilience of the territories.
Prevention was the primary focus of
our first report published in July 2018.
It is based on two approaches.
The first requires we use scientific knowledge
Understanding the phenomena that occur is the key
that enables us to know how to deal with them.
Then, once we understand a phenomenon, we need to know
how we can ready the population to
act accordingly and get through the event safely.
This second part, which consists of
understanding how people behave, obliges us
to educate the population, prepare people
and mitigate their behavior.
We also need to decide beforehand on the best way
to use territorial planning to manage these risks.
This will enable us to develop the risk prevention plans
which have become essential
to every territory and must be updated.
Hurricane Irma served as a reminder of the lack
of access to insurance in the overseas territories.
The overseas territories have
a rate of access to insurance of 50%
compared to 99% on the French mainland.
This significant difference is due to three factors.
The first is that people are uninformed.
It is still complicated for some people
to acquire insurance.
Is it compulsory? How does it work?
The second factor is economic.
Insurance is a part of every budget
but it is clearly not a priority.
The third and most important factor
we analyze is the level of insurability
in the overseas territories and on the mainland.
Sometimes, it is simply a frame of mind.
We know very well that people and families help one another
and there is a real sense of community
much more overseas than on the mainland.
The main challenge going forward is to help
homeowners in these highly exposed territories.
PUBLIC GROUP AND INTERNATIONAL REINSURER
Subtitles: Pierel & Associés
