Flood facts
According to FEMA, flooding is the most common natural disaster in the United States. Between 1996 and 2019, 99% of US counties were impacted by a flooding event.
1.5 minutes read
Published: 03.06.2024
properties.trackTitle
properties.trackSubtitle
Definition
Flooding is an overflowing of water onto land that is normally dry from:
Heavy rains
Storm surge coming on shore
Snow melting quickly
Dams or levees break
Atmospheric rivers
Drivers of flood losses
1
Increasing frequency and severity of extreme rain events
2
Population and economic growth in disaster-prone areas
3
Rising sea levels
4
Aging infrastructure, such as dams and levees
$16.9 bn
in structural damage and 4 million lost days of operation for businesses by 2052¹
22%
of homeowners surveyed perceived they are at risk for flood, yet anywhere it rains it can flood.
Ten ways businessowners and homeowners can reduce flood damage
Discover ten essential strategies tailored for both businessowners and homeowners to effectively mitigate flood damage risks. From preventive measures to actionable plans, this guide offers valuable insights to safeguard your property and assets against the devastating impact of flooding.
1. Materials
2. Barriers
3. Grading
4. Electrical
5. Fuel tanks
Use water damage-resistant building materials
Build barriers, such as floodwalls and levees
Maintain proper water runoff and grading
Elevate utilities and electrical systems
Anchor fuel tanks
6. Foundation
7. Sump pump
8. Sewers
9. Gutters
10. Furniture
Seal foundation and basement walls
Install a water alarm and sump pump
Prevent sewer backups
Clear any debris from gutters and downspouts
Move furniture and valuables to a safe place
Munich Re US flood solutions
FloodscapeTM
A tool based on Munich Re's hydrological expertise that allows the visualization and quantification of flood risk based on riverflow upstream and downstream correlations through 40,000+ unique national flood scenarios.
Inland Flood endorsement
Our turnkey Inland Flood endorsements offer affordable flood insurance that can easily be added onto existing personal lines policies in low-to-moderate risk areas.
Source:
1Smith, Zachary Snowdon. 2021. Floods will cost US businesses $49 billion next year, study says. Forbes. December 12. Retrieved from: https://www.forbes.com/sites/zacharysmith/2021/12/16/floods-will-cost-us-businesses-49-billion-next-year-study-says/
3
Munich Re US flood experts
Serena Garrahan (Flood)
Inland Flood Product Manager
Jay Rosario
Head of Digital Solutions
Raghuveer Vinukollu (Resilience/Mitigation)
Head of Climate Insights & Advisory
This may interest you
Newsletter
Stay ahead of the curve with exclusive insights and industry updates! Subscribe to our Munich Re Insights Newsletter for a front-row seat to the latest trends in risk management, expert analyses and assessments, market insights, and innovations in the insurance industry. Join our community of forward-thinkers at Munich Re and empower your journey towards a more resilient future.