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Author (up) Jacob Pastor; Ilan Noy; Isabelle Sin
Title Flood risk and flood insurance in New Zealand Type Conference Article
Year 2018 Publication Proceedings of ISCRAM Asia Pacific 2018: Innovating for Resilience – 1st International Conference on Information Systems for Crisis Response and Management Asia Pacific. Abbreviated Journal Iscram Ap 2018
Volume Issue Pages 381-399
Keywords Flood risk, insurance, liabilities
Abstract The standard framework for undertaking a risk assessment of a natural hazard involves analyzing the interaction of three components: Hazard data (in the form of maps), the elements exposed to the hazard (exposure), and measures of these elements' vulnerability (understood as the susceptibility to harm or damage). In New Zealand, national flood risk remains unquantified due to the absence of national flood inundation hazard map coverage. In this paper, we develop a methodology that aims to fill this gap by estimating instead the likelihood of a flood insurance claim for a stock of residential buildings. We estimate a non-linear limited-dependent variable model and using a set of fragility functions (also known as damage curves), we calculate the expected monetary losses under plausible flood depth scenarios. The outcome of this research could inform insurers of their potential liabilities and threats to their financial sustainability in the face of flood and storms.
Address Victoria University of Wellington; Victoria University of Wellington; MOTU
Corporate Author Thesis
Publisher Massey Univeristy Place of Publication Albany, Auckland, New Zealand Editor Kristin Stock; Deborah Bunker
Language English Summary Language Original Title
Series Editor Series Title Abbreviated Series Title
Series Volume Series Issue Edition
Track Understanding Risk, Risk Reduction, Consequences and Forecasting Expedition Conference
Notes Approved no
Call Number Serial 1669
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