Coastal Risk and Fathom partner on flood mapping
Coastal Risk Consulting of Boca Raton, Florida, is partnering with Fathom, a flood modelling company based in the UK, to offer flood mapping in its risk reports for US property owners.
Fathom integrates up-to-date and comprehensive US datasets with modelling technology to deliver flood maps in the US with a resolution of 10 meters.
Fathom’s flood risk maps for rainfall and river flooding are incorporated in Coastal Risk’s flood and natural hazard risk reports, providing commercial, governmental and residential property owners with significantly improved precision and accuracy in their flood risk assessments.
According to Fathom, over 40 million homeowners in the US are at risk of having their homes flooded – more than three times as many people as FEMA’s flood maps previously indicated – but only five million currently hold flood insurance policies.
Albert Slap, president of Coastal Risk, 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.”
Andrew Smith, chief operations officer of Fathom Global, said: “Coastal Risk provides US property owners a much clearer understanding of their exposure to flooding, which is critical to protecting the value of their assets. Coastal Risk’s reports are unparalleled in the level of detail they contain and should be essential for anyone needing to know how flood affects their property.”
Dr Leonard Berry, Coastal Risk co-founder, 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.”
