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An integrated flood risk assessment model for property insurance industry in Taiwan

Author

Listed:
  • Wen-Ko Hsu
  • Pei-Chiung Huang
  • Ching-Cheng Chang
  • Cheng-Wu Chen
  • Dung-Moung Hung
  • Wei-Ling Chiang

Abstract

Taiwan is located in an area affected by Northwest Pacific typhoons, which are also one of the most important sources of rainfall to the island. Unfortunately, the abundant rainfall brought by typhoons frequently produces hazards. In recent years, typhoons and floods have caused serious damage, especially Typhoon Morakot in 2009. In this study, a probabilistic model is developed based on historical events which can be used to assess flood risk in Taiwan. There are 4 separate modules in this model, including a rainfall event module, a hydraulic module, a vulnerability module, and a financial loss module. Local data obtained from the Taiwan government are used to construct this model. Historical rainfall data for typhoon and flood events that have occurred since 1960, obtained from the Central Weather Bureau, are used for computing the maximum daily rainfall for each basin. In addition, the latest flood maps from the Water Resources Agency are collected to assess the probable inundation depth. A case study using the local data is carried out. Assessment is made to predict possible economic loss from different financial perspectives such as the total loss, insured loss, and loss exceeding probabilities. The assessment results can be used as a reference for making effective flood risk management strategies in Taiwan. Copyright Springer Science+Business Media B.V. 2011

Suggested Citation

  • Wen-Ko Hsu & Pei-Chiung Huang & Ching-Cheng Chang & Cheng-Wu Chen & Dung-Moung Hung & Wei-Ling Chiang, 2011. "An integrated flood risk assessment model for property insurance industry in Taiwan," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 58(3), pages 1295-1309, September.
  • Handle: RePEc:spr:nathaz:v:58:y:2011:i:3:p:1295-1309
    DOI: 10.1007/s11069-011-9732-9
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    References listed on IDEAS

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    5. Muhammad Farooq & Muhammad Shafique & Muhammad Shahzad Khattak, 2019. "Flood hazard assessment and mapping of River Swat using HEC-RAS 2D model and high-resolution 12-m TanDEM-X DEM (WorldDEM)," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 97(2), pages 477-492, June.
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    9. Cheng-Wu Chen & Chun-Pin Tseng & Wen-Ko Hsu & Wei-Ling Chiang, 2012. "A novel strategy to determine the insurance and risk control plan for natural disaster risk management," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 64(2), pages 1391-1403, November.
    10. Yu-Shou Su, 2016. "Urban Flood Resilience in New York City, London, Randstad, Tokyo, Shanghai, and Taipei," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 6(1), pages 92-108, March.
    11. Cheng-Wu Chen & Kevin Liu & Meng-Lung Lin & Chun-Pin Tseng, 2013. "A new viewpoint of hazard assessment and management for Taiwan’s insurance issues," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 65(1), pages 303-314, January.
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    16. S. Hochrainer-Stigler & N. Lugeri & M. Radziejewski, 2014. "Up-scaling of impact dependent loss distributions: a hybrid convolution approach for flood risk in Europe," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 70(2), pages 1437-1451, January.
    17. Chi-Wei Lin & Yi-Ping Hung & Wen-Ko Hsu & Wei-Ling Chiang & Cheng-Wu Chen, 2013. "The construction of a high-resolution visual monitoring for hazard analysis," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 65(3), pages 1285-1292, February.
    18. Bih-Yaw Shih & Chin-Jui Chang & Ying-Hsiu Chen & Chen-Yuan Chen & Yau-Dong Liang, 2012. "Lego NXT information on test dimensionality using Kolb’s innovative learning cycle," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 64(2), pages 1527-1548, November.
    19. Cheng-Wu Chen & Ching-Chung Lee & Chia-Hung Chen & Chun-Pin Tseng, 2013. "The integration of nautical hazard assessment and harbor GIS models to the Taichung Port area in Taiwan," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 67(2), pages 275-294, June.
    20. Chun-Pin Tseng & Cheng-Wu Chen, 2012. "Natural disaster management mechanisms for probabilistic earthquake loss," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 60(3), pages 1055-1063, February.
    21. Albert S. Chen & Michael J. Hammond & Slobodan Djordjević & David Butler & David M. Khan & William Veerbeek, 2016. "From hazard to impact: flood damage assessment tools for mega cities," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 82(2), pages 857-890, June.
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