The ABI is to publish a report next month on the threats and opportunities for insurers posed by climate change.

It will look at the "major perils" of flooding, subsidence and windstorm, addressing issues such as underwriting, investment and reputation.

ABI head of household and commercial property Jane Milne said: "We want to be
seen to be on the front foot on potential future risks to make sure that insurers are well-prepared."

The research project is being carried out by Andrew Dlugolecki, an independent consultant who previously worked with the UN on environmental issues.

The report will be published on 8 June.