Systemic Financial Risk Arising From Residential Flood Losses

Thomson, Hope; Zeff, Harrison B.; Kleiman, Rachel; Sebastian, Antonia; Characklis, Gregory W.

doi:10.1029/2022ef003206

Cited by 10 publications

(2 citation statements)

References 127 publications

(151 reference statements)

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“…(as in Thomson et al (2023)). This resulted in 11,073 buildings with a NFIP claim and 11,739 buildings associated with a NFIP policy but no claim.…”

Section: Property-level Building Exposurementioning

confidence: 98%

Determining the Relative Contributions of Runoff and Coastal Processes to Flood Exposure across the Carolinas during Hurricane Florence

Grimley,

Sebastian,

leijnse

et al. 2023

Preprint

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Estimates of flood inundation from tropical cyclones (TCs) are needed to better understand how exposure varies inland and at the coast. While reduced-complexity flood inundation models have been previously shown to efficiently simulate the drivers of TC flooding across large regions, a lack of detailed validation studies of these models, which are being applied globally, has led to uncertainty about the quality of the predictions of inundation depth and extent and how this translates to exposure. In this study, we complete a comprehensive validation of a reduced-complexity hydrodynamic model (SFINCS) for simulating pluvial, fluvial, and coastal flooding. We hindcast Hurricane Florence (2018) flooding in North and South Carolina, USA using high-resolution meteorologic data and coastal water level output from an ocean recirculation model (ADCIRC). We compare modeled water levels to traditional validation datasets (e.g., water level gages, high-water marks) as well as property-level records of insured damage to draw conclusions about the model’s performance. We demonstrate that SFINCS can accurately simulate coastal and runoff drivers of TC flooding at large scales with minimal computational requirements and limited calibration. We use the validated model to attribute flood extent and building exposure to the individual and compound flood drivers during Hurricane Florence. The results highlight the critical role runoff processes have in TC flood exposure and support the need for broader implementation of models that are capable of realistically representing the compound effects resulting from coastal and runoff processes.

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“…(as in Thomson et al (2023)). This resulted in 11,073 buildings with a NFIP claim and 11,739 buildings associated with a NFIP policy but no claim.…”

Section: Property-level Building Exposurementioning

confidence: 98%

Determining the Relative Contributions of Runoff and Coastal Processes to Flood Exposure across the Carolinas during Hurricane Florence

Grimley,

Sebastian,

leijnse

et al. 2023

Preprint

View full text Add to dashboard Cite

show abstract

“…Además, otras formas de vivienda vulnerables a los riesgos climáticos son las casas móviles y las viviendas prefabricadas, que se concentran en el Sureste 40,76,77 . Estas poblaciones tienden a enfrentarse a más barreras para acceder a los seguros de inundación y a las ayudas federales para desastres por inundaciones, y experimentan con mayor frecuencia resultados adversos durante la recuperación después del desastre, debido en parte a la falta de programas de ayuda en caso de desastre para inquilinos y al aumento del costo de los seguros de inundación 78,79,80 . Además, la posible sobrevaloración de las viviendas residenciales costeras dificulta aún más el traslado de las personas fuera del peligro debido a los límites máximos impuestos al monto de compensación que estos programas pueden ofrecer y la renuencia de las personas a vender estas propiedades y perder ingresos por alquiler.…”

Section: Las Inundaciones En El Interior Y Costeras Amenazan El Prese...unclassified

Cap. 22. Sureste. En: La Quinta Evaluación Nacional del Clima

2023

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Does flood risk affect the implied cost of equity capital?

Lai,

Cheng,

et al. 2025

Finance Research Letters

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Systemic Financial Risk Arising From Residential Flood Losses

Abstract: Flood events are society's costliest natural hazards, with impacts expected to rise due to growing hazard exposure and climate change-driven increases in flood frequency and severity (

Cited by 10 publications

References 127 publications

Determining the Relative Contributions of Runoff and Coastal Processes to Flood Exposure across the Carolinas during Hurricane Florence

Determining the Relative Contributions of Runoff and Coastal Processes to Flood Exposure across the Carolinas during Hurricane Florence

Cap. 22. Sureste. En: La Quinta Evaluación Nacional del Clima

Does flood risk affect the implied cost of equity capital?

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