“…Floods are considered the most devastating and frequently occurring hazards in the world (IPCC, 2014;UNISDR, 2009). That is why it has attracted the attention of many researchers and organizations, trying to appraise and assess the risks involved in order to stem its excesses and guard against future consequences (Dutta et al, 2003(Dutta et al, , 2013Herath and Wang, 2009;Bormudoi et al, 2011;Mohammadi et al, 2014;Notaro et al, 2014). The general shift of focus from flood hazard control to flood risk assessment has propelled the active involvement and interest in flood impact assessment and economic damage estimation (Bubeck et al, 2011;Ke et al, 2012).…”