Guidelines for reducing floods losses

Affected flood areas in 2014 are the biggest catastrophic in Malaysia which has left large citizens without homes and losses of income. Flood is one of the yearly catastrophes occurred in Malaysia as it is exposed to monsoon wind season. The objectives of the study are to investigate the risks and economic losses faced by the victims. The study also investigates how insurers and the government could mitigate losses due to flooding. This is a qualitative method of study and will be conducted in Kelantan and Pahang, the states in Semenanjung Malaysia that faced frequent flood disasters. Data was collected from the respondents with different economic activities backgrounds.

Findings show respondents suffered economic losses and have difficulties in re-building their life due to the financial constraints aftermath. Re-insurer and insurer are willing to develop flood insurance as part of flood risk mitigation and risk reduction. Risk mitigation, including the enforcement of the building standard code for all premises and establishing the regulation that abstains any house or premise to be built near the river in certain measurements. Victims’ losses due to flood would be lightened by compensation from the insurance scheme. By having properly implemented risk mitigation and risk reduction, the government could ensure the economic and social resilience of the citizens.