This PhD project, based at Loughborough University Business School, addresses the urgent challenge of flood risk in the UK’s banking and insurance sectors as climate change increases the frequency and severity of flooding. The project aims to bridge critical gaps in current financial risk assessment by integrating advanced flood science with financial economics. Students will use high-resolution flood models and property data to map and analyze the spatial and temporal evolution of flood hazards, then link these insights to loan portfolios and insurance datasets. The research will develop innovative tools to assess how flood risk impacts insurers’ ability to provide coverage and banks’ credit and liquidity, ultimately informing more robust stress-testing frameworks for financial institutions. The PhD offers advanced training in catastrophe modelling, spatial data analysis, and financial risk assessment, and includes a research placement at Willis Towers Watson, providing real-world experience in the insurance and banking industries. Collaboration with the Environment Agency ensures the research has strategic impact. The project is part of the Centre for Doctoral Training for Resilient Flood Futures (FLOOD-CDT), and is supported by a UKRI-funded studentship covering a stipend and tuition fees. Applicants should have a strong academic background (2:1 honours degree and a Masters with at least 65% average or international equivalent) and meet English language requirements (IELTS 7.0 in all components). The application process requires a research statement, CV, academic transcripts, and proof of English proficiency. The deadline for applications is January 8, 2026. Prospective students are encouraged to contact the supervisors for project-specific queries and to familiarize themselves with FLOOD-CDT before applying.

[UKRI studentship through Flood-CDT for 3.5 years, tax-free stipend of £20,780 per annum plus tuition fees at the UK rate. International candidates may receive the difference between UK and International tuition fees.] This PhD studentship at Loughborough University, titled 'Finance Under Water? Assessing Flood Risk in Banking and Insurance Systems,' addresses the urgent challenge of flooding in the UK and its impact on the financial sector. As climate change increases the frequency and severity of floods, banks and insurers face growing financial exposure, with consequences for loan repayments, property values, and overall financial stability. Current stress-testing frameworks often fail to account for short-term, localized climate shocks and their effects on financial systems. This project aims to bridge that gap by integrating advanced flood science with financial economics. The successful candidate will use high-resolution flood models and property data to map flood hazards and their evolution, linking these insights to loan portfolios and insurance datasets. The research will develop innovative tools to assess how flood risk constrains insurers' protection and affects banks' credit and liquidity. The project offers interdisciplinary training in catastrophe modelling, spatial data analysis, and financial risk assessment. A research placement at Willis Towers Watson will provide practical experience in applying research findings to real-world decision-making in the insurance and banking sectors, while collaboration with the Environment Agency will help ensure strategic impact. The studentship is funded by UKRI through the Centre for Doctoral Training for Resilient Flood Futures (FLOOD-CDT), offering a 3.5-year tax-free stipend of £20,780 per annum plus tuition fees at the UK rate. International candidates may also have the difference between UK and international tuition fees covered. Applicants should have at least a 2:1 honours degree and a UK Masters degree (or international equivalent) with a minimum average mark of 65%, and must meet English language requirements (IELTS 7.0 in all components). Applications are assessed on motivation, intellectual excellence, project suitability, and fit to FLOOD-CDT. Candidates should apply online, selecting Loughborough Business School and quoting reference FCDT-26-LU7, and are encouraged to contact supervisors to discuss the project before applying.