Kathmandu. The global flood insurance market is expected to reach $25.25 billion by 2025.
The global flood insurance market is expected to reach $25.21 billion. The level of coverage of flood insurance varies widely in different regions. In Canada, 10 per cent of households are at high risk of flooding but lack access to insurance. In Canada, 54 per cent of homeowners are at risk of flooding.
In some flood-hit areas in Germany and the Netherlands, more than 90 percent of insurance coverage is covered. Which is supported by a strong security system. In contrast, less than 30 per cent of flood insurance covers parts of Eastern Europe, and less than 10 per cent in high-risk areas in India and the Philippines.
The expansion of flood insurance in Japan is widespread. In Japan, more than 75 percent of homeowners have flood insurance.
The UK’s flood recovery scheme has helped 660,000 households with subsidised premiums by 2025. Meanwhile, the northern region of Australia has made flood insurance mandatory for new development. Since 2018, the use of flood insurance in Australia has increased by 25 per cent.
India offers flood microinsurance products to protect low-income families at a cost of just $3 per year.
