'Compensation process by insurers in the event of flooding needs to be improved'

In his research, the PhD candidate also looks at the climate risks for the financial sector. "Among other things, I analyse what kind of risks the industry runs due to damage to real estate and what secondary damage is involved. You can think of buildings that are not accessible after a flood and employees who have to work in a different place. It is also possible that there is a business interruption, which in turn leads to a loss of turnover."

Endendijk investigated how long it took for affected organisations in Limburg to be back in full operation. "This depends on how high the water has been. In addition, two other factors play a major role. The first is how quickly there is clarity about compensation and how quickly this money will be received. If, as a company, you still have to wait for a large part of the compensation amount, it will take longer to get back to work. Thus, a streamlined process speeds up recovery. In addition, we also see that companies that have a stronger connection with residents in the area recover faster than organisations with less regional ties. After a flood, residents are more likely to support local entrepreneurs than companies with a less strong connection to the region."