Insurance industry adopts Earth observation for assessing floods

03 October 2012

The use of data from Earth-observing satellites in the insurance business is still in the early stages, but pressure to be ready for more frequent extreme-weather events is increasing.

Flooding is expensive for the insurance and reinsurance market. Last year's flood in Thailand cost the insurance industry $15-20 billion - the most expensive flood ever in terms of insured losses.

Accurate and timely information about a flood's extent can help insurers to assess the impact and prepare to meet the claims.

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