Catastrophe loss modelling of storm-surge flood risk in eastern England

Probabilistic catastrophe loss modelling techniques, comprising a large stochastic set of potential storm-surge flood events, each assigned an annual rate of occurrence, have been employed for quantifying risk in the coastal flood plain of eastern England. Based on the tracks of the causative extratropical cyclones, historical storm-surge events are categorized into three classes, with distinct windfields and surge geographies. Extreme combinations of ‘tide with surge’ are then generated for an extreme value distribution developed for each class. Fragility curves are used to determine the probability and magnitude of breaching relative to water levels and wave action for each section of sea defence. Based on the time-history of water levels in the surge, and the simulated configuration of breaching, flow is time-stepped through the defences and propagated into the flood plain using a 50 m horizontal-resolution digital elevation model. Based on the values and locations of the building stock in the flood plain, losses are calculated using vulnerability functions linking flood depth and flood velocity to measures of property loss. The outputs from this model for a UK insurance industry portfolio include ‘loss exceedence probabilities’ as well as ‘average annualized losses’, which can be employed for calculating coastal flood risk premiums in each postcode.