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HORA -

The basis of insurability

of natural risks in Austria

Dr. Anita SCHÖNEGGERManager PropertyAustrian Insurance Association

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STRUCTURE OF PRESENTATION

1. reasons for starting the project

2. beginning

3. project facts

4. further steps

5. benefits

REASONS FOR STARTING THE PROJECT

• a worldwide significant increase of natural hazards

• Austria was affected seriously by floods and hailstorms in the last years

• heavy floods affected many Austrian regions in summer 2002

total damage about € 3 bn

insured losses about € 400 m

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topography AUSTRIA

Flood 2002

Flood 2005

AUSTRIA – FLOOD 2002

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AUSTRIA – FLOOD 2002

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AUSTRIA – FLOOD 2002

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REASONS FOR STARTING THE PROJECT

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the sums insured were and are still very low

the payments of the public catastrophe fund were by far not sufficient

less information means less prevention

the public discussion encouraged the insurance industry to search for better solutions

BEGINNING

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2002: establishment of the working group „Natural Catastrophes“

model „ZÜRS“

dialogue partner: Federal Ministry of Agriculture and Forestry, Environment and Water Management (Ministry of Life)

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PPPHORA

Austrian Insurance Association

BML(Federal Ministry of

Life)

System partners – reinsurances and

brokers

BEGINNING

PROJECT FACTS

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numerous data and files were linked

DGM and digital river network, for which inundation surfaces were to be computed

hydrologic data - supply by discharges of floodwater given of annualness in small distances along this river network

1. step: determination of discharges of different annualness at the levels2. step: transmission of these punctual values on the entire river net, so-called regionalization

HORA

Zone 1

Zone 2

computation of the inundation surfaces for different annualnesses, for example•HQ30•HQ100•HQ200 (opt. HQ50 und HQ500)

1. production of the transverse profiles from the DGM in firm distances2. hydraulics water level situationof computation as a function of valley profile, longitudinal slope and roughness factor3. determination of the inundation surface by transferring into the DGM

HORA

digital risk maps for floodrisks

internet version (since June 2006)

intranet version

accumulation risks (HORA II) internet version (since June 2006)

model calculations for most water discharge scenarios

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PROJECT FACTS

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www.hochwasserrisiko.at

PROJECT FACTS

further representations of natural risks on risk maps:

earthquake (HORA III)

internet and intranet version

hail storms (HORA IV)

intranet version (since July 2007)

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PROJECT FACTS

Earthquakes in Austria since 1201

Hailstorms in Austria

© BMLFUW 2006

project costs about € 2 m

creation of an outstanding platform

approximate 50 million accesses are registered

HORA already fulfils all requirements of the EU Floods Directive

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PROJECT FACTS

FURTHER STEPS

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development of a 2 x 2 raster by

laserscanning

risk zoning system plans for further natural hazards

permanent updating of data

and files

development of a comprehensive natural hazards portal

BENEFITS

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risk assesment facilitates useful prevention measures regional planning claims management prevention measures: e.g. building the house in safe environment

insurance companies are able to develop effective insurance cover concepts

HORA: first step of a functioning and global insurance solution for natural hazards

Thank you!

Austrian Insurance Association -Your Regional Partner in CEE

www.vvo.at

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AUSTRIAN INSURANCE ASSOCIATION