Key Drivers: -100 major damaging floods 1998 – 2002 including catastrophic floods in August 2002 -Since 1998 :-700 fatalities -0.5 million people displaced -25 billion Euro in insured economic losses -Recent floods in Romania,Bulgaria, Austria and Belgium -More people living in areas at risk of flooding -Increasing value of economic assets located in flood risk areas -Substantial health implications – physical and psychological