Coastal Flooding - Flood Significant from an Insurance Perspective - Management Assignment Help

Assignment Task:

Cities are ever more vulnerable to flooding. The population density in flood-prone coastal zones, where many cities are situated, is expected to grow by 25% by 2050. This combined with projected climate change and sea-level rise that will further increase the frequency and severity of coastal floods is a demolition derby waiting to happen (Aerts et al. 2014, IPCC 2014). Cities further away from the coast will also be affected, as river flooding is forecasted to be on the rise as our global climate changes, with increased precipitation intensity and variability increases the risks of flooding and drought in many areas (IPCC 2014). 

Flooding can result in many impacts depending on the surrounding landscape. Within an urban environment, homes may be damaged, wastewater infrastructure destroyed, riparian zones bulldozed, bridges swept away, roads eroded. In rural settings, crops may be lost, farm animals sunk, fences ruined, trees downed. Rising losses and increasing costs have to lead many reforms in insurance calculations for effective flood insurance schemes. In some countries such as the UK, flooding is the largest natural disaster risk, and to ensure everyone can afford flood insurance the government now backs insurance companies for flooding (Surminski and Eldridge 2015). 

To estimate the potential losses or create mitigation-plans for reducing those losses we can use GIS. The challenge of Assignment 3 Part 4 is to assess the likely impact of a hypothetical flood on residential properties in two districts within New York (Bronx and Manhattan) for an insurance company. This knowledge will allow the insurance company to appropriately value flood insurance for properties and may also help inform mitigation strategies that could be put into place to reduce the loss. 

CONCEPTUALLY BREAK APART THE PROBLEM

To undertake this challenge, we begin by thinking about the nature of the task prior to discussion with our client, the insurance company. To clarify how to address this challenge using GIS, we consider the following questions: 

• what kinds of flood impacts on residential properties does the client want to understand? 

• Do they want to know the amount of land area affected? 

• Or, the dollar value of buildings and land lost? 

• What percentage of the land area of a property needs to be flooded to make the impact of a flood significant from an insurance perspective? 

• Do we want a map of the exact placement of floodwater across the property, or a simple statistic per property expressing how much land might be lost to flooding? 

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