Fathom and Coastal Risk in flood mapping JV

UK flood modelling firm Fathom has partnered with natural hazard and climate impact risk assessment technology company Coastal Risk Consulting, to offer flood mapping in risk reports for US property owners.

Under thenew partnership, Fathom’s current and comprehensive US flood maps and datasets, for both rainfall and river flooding, will be integrated into Coastal Risk Consulting’s risk reports. The new product is aimed at commercial, governmental and residential property owners looking for enhanced accuracy in their flood risk assessments.

Coastal Risk co-founder, Dr. Leonard Berry, said: “With this partnership, Coastal Risk can now automate its damage/loss modelling for flood scenarios: riverine, heavy precipitation, storm surge, and tidal flood both in the US and globally. In order to assist with critical decision-making, Coastal Risk also estimates damage and economic loss at the property level (structure, contents and business interruption) for commercial real estate, insurance and banking interests.

This new formula will add greater clout to risk assessments, delivering advanced flood maps with a resolution of just 10 metres.

A study undertaken by Fathom last year revealed that 40m Americans are at risk of having their homes flooded – more than three times the amount that the Federal Emergency Management Agency had estimated. This figure highlighted the need for a more robust combination of modelling and mapping.

President of Coastal Risk, Albert Slap, said: “We endeavour to include the very best modelling and mapping in our reports. After much research, our Science Team, including Nobel Prize-winner Dr. Brian Soden and world-renowned environmental scientist, Dr. Leonard Berry, determined that Fathom’s maps and data would be an excellent complement to Coastal Risk’s flood modelling in the US.”

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