Refine
Language
- English (4)
Is part of the Bibliography
- yes (4)
Keywords
- Random Forests (2)
- business interruption (2)
- companies (2)
- floods (2)
- variable importance (2)
- Europe (1)
- buildings (1)
- climate (1)
- events (1)
- projections (1)
Institute
- Mathematisch-Naturwissenschaftliche Fakultät (4) (remove)
Losses due to floods have dramatically increased over the past decades, and losses of companies, comprising direct and indirect losses, have a large share of the total economic losses. Thus, there is an urgent need to gain more quantitative knowledge about flood losses, particularly losses caused by business interruption, in order to mitigate the economic loss of companies. However, business interruption caused by floods is rarely assessed because of a lack of sufficiently detailed data. A survey was undertaken to explore processes influencing business interruption, which collected information on 557 companies affected by the severe flood in June 2013 in Germany. Based on this data set, the study aims to assess the business interruption of directly affected companies by means of a Random Forests model. Variables that influence the duration and costs of business interruption were identified by the variable importance measures of Random Forests. Additionally, Random Forest-based models were developed and tested for their capacity to estimate business interruption duration and associated costs. The water level was found to be the most important variable influencing the duration of business interruption. Other important variables, relating to the estimation of business interruption duration, are the warning time, perceived danger of flood recurrence and inundation duration. In contrast, the amount of business interruption costs is strongly influenced by the size of the company, as assessed by the number of employees, emergency measures undertaken by the company and the fraction of customers within a 50 km radius. These results provide useful information and methods for companies to mitigate their losses from business interruption. However, the heterogeneity of companies is relatively high, and sector-specific analyses were not possible due to the small sample size. Therefore, further sector-specific analyses on the basis of more flood loss data of companies are recommended.
Losses due to floods have dramatically increased over the past decades, and losses of companies, comprising direct and indirect losses, have a large share of the total economic losses. Thus, there is an urgent need to gain more quantitative knowledge about flood losses, particularly losses caused by business interruption, in order to mitigate the economic loss of companies. However, business interruption caused by floods is rarely assessed because of a lack of sufficiently detailed data. A survey was undertaken to explore processes influencing business interruption, which collected information on 557 companies affected by the severe flood in June 2013 in Germany. Based on this data set, the study aims to assess the business interruption of directly affected companies by means of a Random Forests model. Variables that influence the duration and costs of business interruption were identified by the variable importance measures of Random Forests. Additionally, Random Forest-based models were developed and tested for their capacity to estimate business interruption duration and associated costs. The water level was found to be the most important variable influencing the duration of business interruption. Other important variables, relating to the estimation of business interruption duration, are the warning time, perceived danger of flood recurrence and inundation duration. In contrast, the amount of business interruption costs is strongly influenced by the size of the company, as assessed by the number of employees, emergency measures undertaken by the company and the fraction of customers within a 50 km radius. These results provide useful information and methods for companies to mitigate their losses from business interruption. However, the heterogeneity of companies is relatively high, and sector-specific analyses were not possible due to the small sample size. Therefore, further sector-specific analyses on the basis of more flood loss data of companies are recommended.
Experience has shown that river floods can significantly hamper the reliability of railway networks and cause extensive structural damage and disruption. As a result, the national railway operator in Austria had to cope with financial losses of more than EUR 100 million due to flooding in recent years. Comprehensive information on potential flood risk hot spots as well as on expected flood damage in Austria is therefore needed for strategic flood risk management. In view of this, the flood damage model RAIL (RAilway Infrastructure Loss) was applied to estimate (1) the expected structural flood damage and (2) the resulting repair costs of railway infrastructure due to a 30-, 100- and 300-year flood in the Austrian Mur River catchment. The results were then used to calculate the expected annual damage of the railway subnetwork and subsequently analysed in terms of their sensitivity to key model assumptions. Additionally, the impact of risk aversion on the estimates was investigated, and the overall results were briefly discussed against the background of climate change and possibly resulting changes in flood risk. The findings indicate that the RAIL model is capable of supporting decision-making in risk management by providing comprehensive risk information on the catchment level. It is furthermore demonstrated that an increased risk aversion of the railway operator has a marked influence on flood damage estimates for the study area and, hence, should be considered with regard to the development of risk management strategies.
Models for estimating flood losses to infrastructure are rare and their reliability is seldom investigated although infrastructure losses might contribute considerably to the overall flood losses. In this paper, an empirical modelling approach for estimating direct structural flood damage to railway infrastructure and associated financial losses is presented. Via a combination of event data, i.e. photo-documented damage on the Northern Railway in Lower Austria caused by the March River flood in 2006, and simulated flood characteristics, i.e. water levels, flow velocities and combinations thereof, the correlations between physical flood impact parameters and damage occurred to the railway track were investigated and subsequently rendered into a damage model. After calibrating the loss estimation using recorded repair costs of the Austrian Federal Railways, the model was applied to three synthetic scenarios with return periods of 30, 100 and 300 years of March River flooding. Finally, the model results are compared to depth-damage-curve-based approaches for the infrastructure sector obtained from the Rhine Atlas damage model and the Damage Scanner model. The results of this case study indicate a good performance of our two-stage model approach. However, due to a lack of independent event and damage data, the model could not yet be validated. Future research in natural risk should focus on the development of event and damage documentation procedures to overcome this significant hurdle in flood damage modelling.