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Increasing stress on disaster-risk finance due to large floods

Author

Listed:
  • 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)

  • W. J. Wouter Botzen

    (Institute for Environmental Studies, VU University Amsterdam, De Boelelaan 1087 1081HV Amsterdam, The Netherlands)

  • 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
    Present address: CSIRO, Land and Water, Private Bag Nr 5, PO Wembley, Perth, Western Australia 6913, Australia)

  • Philip J. Ward

    (Institute for Environmental Studies, VU University Amsterdam, De Boelelaan 1087 1081HV Amsterdam, The Netherlands)

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.

Suggested Citation

  • Brenden Jongman & Stefan Hochrainer-Stigler & Luc Feyen & Jeroen C. J. H. Aerts & Reinhard Mechler & W. J. Wouter Botzen & Laurens M. Bouwer & Georg Pflug & Rodrigo Rojas & Philip J. Ward, 2014. "Increasing stress on disaster-risk finance due to large floods," Nature Climate Change, Nature, vol. 4(4), pages 264-268, April.
    • Handle: RePEc:nat:natcli:v:4:y:2014:i:4:d:10.1038_nclimate2124
    DOI: 10.1038/nclimate2124
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