Articles | Volume 24, issue 8
https://doi.org/10.5194/nhess-24-2923-2024
https://doi.org/10.5194/nhess-24-2923-2024
Research article
 | 
30 Aug 2024
Research article |  | 30 Aug 2024

Exploring the use of seasonal forecasts to adapt flood insurance premiums

Viet Dung Nguyen, Jeroen Aerts, Max Tesselaar, Wouter Botzen, Heidi Kreibich, Lorenzo Alfieri, and Bruno Merz
Download
Short summary
Our study explored how seasonal flood forecasts could enhance insurance premium accuracy. Insurers traditionally rely on historical data, yet climate fluctuations influence flood risk. We employed a method that predicts seasonal floods to adjust premiums accordingly. Our findings showed significant year-to-year variations in flood risk and premiums, underscoring the importance of adaptability. Despite limitations, this research aids insurers in preparing for evolving risks.
Altmetrics
Final-revised paper
Preprint