Abstract
In this research, we have used spatial information analysis techniques and procedures to process storm, flood, and snow damage risks, and apply premium rates to produce a Storm and Flood Insurance Management Map. To calculate risk, we used ArcGIS’s main features to overlay, integrate, and classify data. Moreover, we designed an ArcGIS Model Builder program to process very large amounts of risk data quickly and accurately. Excel’s pivot feature was used to calculate areas and premium rates according to flood depth. In the case of Incheon metropolitan city, the average risk was 2.85 on the 4-level scale, which lies between "alert" and "danger" and corresponds to the 1st of the 4 premium rate grades. In particular, there were high risks and high premium rates in areas around ports, ocean beaches, and beaches connected to rivers. We expect that this insurance management map created using spatial information analysis techniques will provide useful data for scientific natural disaster response and prevention planning, rational insurance rate calculation and application, and promotion of policies, which identify and prevent areas at risk for frequent storm and flood damage.
Highlights
Various types of natural damages have been caused by climate change
"Storm and flood insurance" refers to insurance that compensates for losses from property damage that occurs due to storm or flood damage [2]
The Storm and Flood Insurance Act is a regulation for quick and fair compensation of losses from property damage that occurred due to storm and flood damage, and it was created with the goal of providing stabilization of the livelihood of citizens
Summary
The term "damage caused by storm and flood" means any disaster caused by typhoon, flood, heavy rainfall, strong wind, wind wave, sea wave, tidal water, heavy snowfall, or other natural phenomena corresponding thereto [1]. The Storm and Flood Insurance Act is a regulation for quick and fair compensation of losses from property damage that occurred due to storm and flood damage, and it was created with the goal of providing stabilization of the livelihood of citizens. Management Map by combining premium rates with the risk of storm, flood, and snow. We have suggested spatial information analysis techniques and procedures to process storm, flood, and snow damage risks and apply premium rates to produce a Storm and Flood Insurance Management Map
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