As flood risks grow worldwide, a well-designed insurance program engaging various stakeholders becomes a vital instrument in flood risk management. The main challenge concerns the applicability of standard approaches for calculating insurance premiums of rare catastrophic losses. This article focuses on the design of a flood-loss-sharing program involving private insurance based on location-specific exposures. The analysis is guided by a developed integrated catastrophe risk management (ICRM) model consisting of a GIS-based flood model and a stochastic optimization procedure with respect to location-specific risk exposures. To achieve the stability and robustness of the program towards floods with various recurrences, the ICRM uses stochastic optimization procedure, which relies on quantile-related risk functions of a systemic insolvency involving overpayments and underpayments of the stakeholders. Two alternative ways of calculating insurance premiums are compared: the robust derived with the ICRM and the traditional average annual loss approach. The applicability of the proposed model is illustrated in a case study of a Rotterdam area outside the main flood protection system in the Netherlands. Our numerical experiments demonstrate essential advantages of the robust premiums, namely, that they: (1) guarantee the program's solvency under all relevant flood scenarios rather than one average event; (2) establish a tradeoff between the security of the program and the welfare of locations; and (3) decrease the need for other risk transfer and risk reduction measures.@en

Progress to date toward the Sustainable Development Goals (SDGs) has fallen short of expectations and is unlikely to fully meet 2030 targets. Past assessments have mostly focused on short- and medium-term evaluations, thus limiting the ability to explore the longer-term effects of systemic interactions with time lags and delay. Here we undertake global systems modeling with a longer-term view than previous assessments in order to explore the drivers of sustainability progress and how they could play out by 2030, 2050, and 2100 under different development pathways and quantitative targets. We find that early planning for systems change to shift from business as usual to more sustainable pathways is important for accelerating progress toward increasingly ambitious targets by 2030, 2050, and 2100. These findings indicate the importance of adopting longer-term timeframes and pathways to ensure that the necessary pre-conditions are in place for sustainability beyond the current 2030 Agenda.@en