Marsh McLennan has launched its Flood Risk Index to help governments and organisations better assess their exposure and vulnerability to more frequent and severe flooding.
The Flood Risk Index sets out the potential impact of flooding on populations and economic assets in 188 countries.
It analyses the risk on a country-by-country basis, by the type of hazard (river or coastal flooding), exposure to flood risk (the total people and assets in harm’s way) and vulnerability to flood damage (the susceptibility of people and assets to harm) for each nation.
The Index also allows users to compare scores for hazard, exposure and vulnerability between two countries, or between one country and the global average.
Users can also gain insight from geospatial data sets made available by multiple research institutions and international organisations to visually assess the potential impacts of river and coastal flooding on urban and rural areas.
Over 2.2 billion people are exposed to flooding globally. Since 1980, over 4,500 flood disasters resulted in over $1 trillion in damages, accounting for 40% of natural catastrophe losses globally.
Rob Bailey, Director of Climate & Sustainability, Marsh McLennan and co-author of the Index commented: “Recent disasters in the U.S., Germany and China show that floods are pervasive and routinely underestimated.
“As climate change, economic and demographic trends, and a chronic shortfall in investment in resilience combine to drive risk higher, it is time for governments and businesses to rethink their approach to flood risk.
“This index will help organisations gain a greater understanding of where their people, assets, and supply chains are most at risk, and take steps to mitigate the worst potential impacts of flood.”
