Representatives of the LIFE Garachico project met in Madrid with the Insurance Compensation Consortium to inform the Consortium of the scope of the project and present the progress in flexible adaptation policies against coastal flooding.
This new line of work, the project seeks to develop new methodologies for the evaluation of flood risk in coastal coastal areas, increasing resilience to recovery from sea attacks, in which the Consortium plays a very relevant role. During the meeting, two key elements were detected, which are to improve the degree of insurance in areas potentially affected by sea strikes and to study ways to ensure certain elements of natural protection. The Consortium highlighted that on average, insurance has a fairly good penetration in Spain (75 % of homes are insured) and relatively worse in the Canary Islands (around 50 %). With the aim of increasing this rate in Garachico, it is has proposed a joint action with the Consortium, in which the local community will be presented with the advantages of securing material resources, in order to be able to count on that additional resilience for a prompt recovery from sea attacks.
The meeting was also attended by representatives of the LIFE Adaptablues project, which shares interest in the matter with LIFE Garachico.
