Join Rachel Norris and Mark Middleton from Lockton in this episode as we delve into how environmental, social, and governance (ESG) considerations are reshaping the real estate and insurance industries. Our discussion uncovers the complex interplay between managing property risks and evolving insurance policies amidst increasing climate-related challenges.   Guest Introductions:   Rachel Norris has been at the forefront of Lockton for nearly two decades, advancing from a UK-centric role to an international leadership position, where she has been instrumental in driving forward ESG initiatives within real estate.   Mark Middleton leverages his background in chemical engineering and major hazard risk assessment to address property loss control and business resilience, offering a nuanced understanding of insurance in the context of property management.   Key Topics Discussed:   Impact of Physical Climate Risks on Insurance: Rachel and Mark discuss how extreme weather events, such as the recent ones in France and wildfires in Dagenham, are influencing insurance policies. They emphasise the need for fire-resistant construction and the strategic selection of building materials to mitigate risks. Collaboration Across Sectors: The importance of teamwork among developers, asset owners, and insurance brokers is highlighted, focusing on how collaborative efforts are essential to understand and appraise long-term risks associated with real estate assets. Modelling and On-the-Ground Assessments: Our guests talk about the dual approach of using both modelling techniques and physical inspections to assess the vulnerabilities and necessary control measures for properties. Role of Insurance in Business Continuity: Insurance not only protects physical assets but also ensures the continuity of business operations, ultimately preserving the value of properties. Social Impact and Community Building: An often-overlooked aspect of ESG, the social impact on real estate insurance is examined. Rachel and Mark note how building a strong community within properties can reduce liability claims and contribute to happier, more engaged occupants. Data Security and Emerging Threats: With the rise of technological integration in real estate, data security emerges as a crucial area for cooperation between asset owners and insurers to protect against potential cyber threats. --- Send in a voice message: https://podcasters.spotify.com/pod/show/esginpropertypodcast/message