- The country as a whole has a potential expected annual loss of €178 million associated with flood risk
- Barcelona, Valencia and Sevilla rank highest in terms of the areas with the highest expected annual loss from flood risk
- Gamma Location Intelligence visualised Ambiental Risk Analytics data through its Perilfinder™ platform – which it is launching in the Spanish market
- Its analysis also shows that Gipuzkoa is the province in Spain with the highest risk rating per property
- Perilfinder™ enables insurance companies to assess location risk for properties including flooding, fire, subsidence and crime
BILBAO, Spain — (BUSINESS WIRE) — November 14, 2022 — Gamma Location Intelligence (Gamma LI), which provides map and data analysis to insurance companies and local authorities for risk assessment purposes, has published a new flood risk report showing the 10 provinces in Spain most at risk of flooding.
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Gamma Location Intelligence displays flood risk data for buildings in Cartagena, Murcia, overlaid on raster flood data in our Perilfinder platform. (Graphic: Business Wire)
Analysing FloodFutures® data from Ambiental Risk Analytics for Spain through its Perilfinder™ platform – which enables insurance companies and local authorities to assess location risk for properties including flooding, fire, subsidence and crime – Gamma LI has revealed the provinces in Spain most at risk of flooding.
The analysis shows that Gipuzkoa has the highest risk rating per property. The other provinces at higher risk are Bizkaia, Cantabria, Asturias and Pontevedra. Finishing out the top 10 are A Coruña, Huelva, Tarragona, Girona and Cádiz.
However, in terms of the provinces with the highest expected annual loss from flood risk, based on properties at risk and the estimated average damages incurred from flooding (€270,000), the provinces along the Mediterranean coastline rank highest.
Barcelona comes in on top, with an expected annual loss of €17,531,757. It is followed by Valencia (€13,878,134), Sevilla (€12,473,571), Girona (€9,348,161) and Murcia (€8,793,702). Also coming in with an annual cost over €5 million are Tarragona (€7,603,185), Alicante (€6,686,007) and León (€5,951,882).
For the country as a whole, excluding the Canary Islands, the expected annual loss is estimated to be €178,478,423. Based on the total number of properties in each province and the average annual loss per property, Gipuzkia, Asturias and Bizkaia are the most impacted areas.
Richard Cantwell, Senior Spatial Data Scientist, Gamma LI, said: “The effects of climate change are being felt across the globe and whilst wildfire damage and drought tend to be more prevalent in Spain, flooding also occurs in winter months and is increasing due to climate change.
“In fact, in the second half of 2021 alone, there were several severe flood events in the likes of Navarra, Cantabria and La Rioja. Terrible floods have also wreaked havoc in recent months across Murcia, Tarragona and Madrid.
“Our aim in Spain, as well as Ireland and the UK, is to assess and visualise the impact of climate change using high-quality data at the individual property level. In turn, this helps local authorities, banks and insurance providers to make better informed decisions, to assess their exposure for climate-related disclosure reporting and to lower investment and underwriting risk. Even though our analysis shows that the predicted physical damage varies greatly across Spain’s climatic regions, the impacts will be felt across the entire country.”
For more information on the analysis regarding Spain, check out this report by Gamma LI.
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About Gamma Location Intelligence
Gamma Location Intelligence (Gamma LI) is a cloud hosted spatial solutions provider that integrates software, data and services to help our clients reduce risk through Location Intelligence. Established in Dublin, Ireland in 1993, and with offices in Manchester, UK and Bilbao, Spain, the company has expanded to become a global provider of innovative, cloud-hosted location intelligence solutions. For more information, visit https://gammali.co.uk/
About Ambiental Risk Analytics, a company of Royal HaskoningDHV
Ambiental is a global specialist in multi-peril, environmental hazard intelligence, predictive analytics and risk management. Ambiental provides flood forecasting systems using flood modelling techniques that support better decision-making around flood and climate risk management by predicting the location and severity of flooding, preventing damage, and protecting people, property and assets. It is Ambiental’s belief that all people, property and capital should be resilient to flooding and climate change risks.
Ambiental is a company of Royal HaskoningDHV, which has 140 years of worldwide experience in the field of Industry & Buildings, Aviation, Transport & Planning and Water & Maritime. Designing, building and maintaining sustainable solutions to improve people’s lives and business processes is what we do: Enhancing Society Together.
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