Flood Risk in Germany and Austria
Flood is the #1 peril in Central Europe regarding expected damage, frequently affecting all major rivers in Germany: the Elbe, Danube, Rhine and Oder.
In August 2002 a major flood event occurred, affecting most of the Central European countries, causing about €25 billion of economic damage. The estimated losses in Germany and Austria were €9 billion and €3 billion respectively. During this event, 150,000 people had to be evacuated. A similar event in terms of severity occurred in 2013 and caused around €12 billion of overall damage in Germany and less than €1 billion in Austria.
It is critical to fully understand the risk related to flood in Germany and Austria to mitigate the impact of future flood events which will become more intense and frequent due to climate change and will increase the risk of flooding in Central and Western Europe.
With the CoreLogic European Flood Model, you’ll have the granular data necessary to assess risk in Austria and Germany at portfolio or location level.
Don’t Get Under the Weather
Inland flooding in Europe is typically a result of prolonged or intense precipitation and is responsible for both frequent and high-severity losses.
With the CoreLogic European Flood Model, a fully probabilistic risk model, you can quantify your risk from flooding in Germany and Austria. It is a unique model that tackles the complexity of flood events based on CoreLogic proprietary peer-reviewed methodologies and model components that deliver accurate and fully validated results. The model is part of the global catastrophe modeling platform, RQE®.
Flood Types Covered
River-based or fluvial flooding is modeled for the Rhine, Elbe, Oder, Weser, Ems, Danube, Salzach, Inn, Ager, Krems, and Enns rivers.
Flood risk outside river-based flood plains, or fluvial flooding, is modeled for the rest of Germany. This hazard represents flooding caused by the accumulation of precipitation run-off.
European Flood Elements
Water depth is the hazard that drives damage. Riverine and off-plain flooding are both primarily derived from the pan-European precipitation module. European flood tackles the complexity of flood events with a modern approach comprising the following elements:
- Accurate correlation between basins for both Riverine and Off Plain flooding preserved using precipitation event set
- Antecedent conditions and snowmelt
- Proprietary peer-reviewed hydrologic and hydraulic models based on leading scientific and GIS-based geomorphic methodologies
- Proprietary flood defense breach model that incorporates extensive local authority data
- Vulnerability functions derived from CoreLogic innovative engineering methodologies
- Full line of business cover (residential, commercial, industrial, municipal and agricultural)
- 300,000 simulations– critical for treaties and excess flood policies
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