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Post-event measures: Post-event relief versuspre-event mitigation

Risk-averse behavior and policies to plan ahead need to be encouraged, or incentivized. While relief after a disaster is needed, providing full government compensation for losses in flood zones, especially to the 100-percent level, sends the wrong signal. In addition, questions can arise related to whether it is fair to compensate those who did not purchase insurance, as opposed to those who did. Flood risk reduction is a task that spans generations. Extreme flood events are relatively rare and changes to protection levels and infrastructure projects to reduce flood risks might be beneficial only to future generations. This should not stop us from tackling the risks now, especially giving priority to strategies with no regret that offer flexible, adaptable risk reduction that will be beneficial no matter what the future may hold. Uncertainties include increasing asset values, hence greater risk, changes in the environment and climate. Bigger investments are needed now to avoid an unacceptable cost of losses in the future. This requires investments by public bodies (governments), corporations and by individuals affected by flood hazards.

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