Abstract

Norwegian weather patterns are changing and payouts from insurance companies have increased markedly in recent years. Norway has a high level of insurance coverage and a collective scheme covering natural perils damage, but other types of damage have also become more frequent. In the coming years, a rise in weather-related damage may lead to increased costs for homeowners. While data on homes exposed to flooding, avalanches, landslidesand storm surges have long been available, we now also have data indicating exposure to stormwater intrusion risk. We find that approximately 13% of Norwegian homes are located in areas particularly exposed to natural perils damage and other weather-related damage, representing 11.5% of the total value of Norwegian homes.