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Flood Risk Exposure in Austria – Options for Bearing Risk Efficiently

Author

Listed:
  • Thomas Url
  • Franz Sinabell

Abstract

Due to its topography, Austria is exposed to many natural hazards. Inadequate spatial planning aggravates natural exposure to risks, 12% of all buildings are potentially exposed to flooding almost 9% are considered to be at an extreme risk. Reinforcing precautionary measures is a prerequisite for an efficient risk management system that will be ready to meet future challenges. In an efficient risk management system the Austrian government's relief payments after catastrophic events should be substituted by a broad (mostly compulsory) insurance against natural hazards. The strong involvement of government in the provisions of precautionary measures against natural disasters and its role during emergencies should be better co-ordinated with private measures.

Suggested Citation

  • Thomas Url & Franz Sinabell, 2008. "Flood Risk Exposure in Austria – Options for Bearing Risk Efficiently," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 128(4), pages 593-614.
  • Handle: RePEc:aeq:aeqsjb:v128_y2008_i4_q4_p593-614
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    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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