Increasing stress on disaster-risk finance due to large floods

Brenden Jongman (), Stefan Hochrainer-Stigler, Luc Feyen, Jeroen C. J. H. Aerts, Reinhard Mechler, Wouter Botzen, Laurens M. Bouwer, Georg Pflug, Rodrigo Rojas () and Philip J. Ward
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Brenden Jongman: Institute for Environmental Studies, VU University Amsterdam, De Boelelaan 1087 1081HV Amsterdam, The Netherlands
Stefan Hochrainer-Stigler: IIASA—International Institute for Applied System Analysis, Schlossplatz 1 Laxenburg 2361, Austria
Luc Feyen: European Commission—Institute for Environment and Sustainability, Joint Research Centre, via E. Fermi 2749 I-21027 Ispra (VA), Italy
Jeroen C. J. H. Aerts: Institute for Environmental Studies, VU University Amsterdam, De Boelelaan 1087 1081HV Amsterdam, The Netherlands
Reinhard Mechler: IIASA—International Institute for Applied System Analysis, Schlossplatz 1 Laxenburg 2361, Austria
Laurens M. Bouwer: Deltares, Rotterdamseweg 185 Delft 2629 HD, The Netherlands
Georg Pflug: IIASA—International Institute for Applied System Analysis, Schlossplatz 1 Laxenburg 2361, Austria
Rodrigo Rojas: European Commission—Institute for Environment and Sustainability, Joint Research Centre, via E. Fermi 2749 I-21027 Ispra (VA), Italy
Philip J. Ward: Institute for Environmental Studies, VU University Amsterdam, De Boelelaan 1087 1081HV Amsterdam, The Netherlands

Nature Climate Change, 2014, vol. 4, issue 4, 264-268

Abstract: An assessment of economic flood risk trends across Europe reveals high current and future stress on risk financing schemes. The magnitude and distribution of losses can be contained by investing in flood protection, increasing insurance coverage or by expanding public compensation funds. However, these climate change adaptation instruments have vastly different efficiency, equity and acceptability implications. Moreover, the spatial variation in disaster risk can necessitate cross-subsidies between individual countries in the European Union.

Date: 2014
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DOI: 10.1038/nclimate2124

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