A significant increase in flash flood damages has characterized the first quarter of the year, where the number of damages has nearly quadrupled compared to the same period last year. This is shown by new figures from F&P, the industry organization for insurance and pension companies. In the first quarter of 2023, 1080 water damages as a result of flash floods were reported, while the number for the same period this year has risen to 4205.
Pia Holm Steffensen, vice president of F&P, states that the increase is alarming and confirms the trend seen last year, where 2023 was the wettest year ever. She emphasizes the need for society to prepare for more frequent and intense weather conditions, including more flash floods, as a consequence of climate change. “We are concerned because we fear that if as a society we do not better protect ourselves against future climate, there is a risk that consumers may not be able to afford insurance at some point. As compensations increase, one can fear that prices will do the same,” warns Pia Holm Steffensen.
The figures, which cover around 90 percent of the country’s insurance companies, show a clear trend. Topdanmark has also experienced a significant increase in the number of flash flood damages. According to Helene Ibsen, housing manager at Topdanmark, they have received 660 reports of flash flood damages in the first quarter of 2024, compared to 90 in the same period last year. This amounts to a sixfold increase.
The typical damages reported include sewage water rising up in toilets, water in basements, and rain penetrating through roofs, Helene Ibsen explains. In response to the increasing number of flash flood damages, F&P has presented a number of proposals for a national climate adaptation plan to prevent climate damages. The proposals include, among other things, the state setting aside three billion kroner annually towards 2030, integrating climate requirements into municipal local plans and new construction, and creating incentives for municipalities to avoid new construction in low-lying areas that are particularly vulnerable to floods.