METHOD FOR ESTIMATING NONPHYSICAL, TRANSPORTATION-RELATED BUSINESS LOSSES CAUSED BY FLOODING ON THE INLAND RIVER SYSTEM

Research undertaken to develop and document a methodology for the estimation of secondary transportation-related flood losses to commercial and industrial firms is reported. The categories of loss estimated exclude physical damage, which is already included in current methodologies. The methodology categorizes transportation-related flood losses into three broad areas. The first area is losses in travel time and travel cost-estimated costs of additional route circuity and travel time, primarily for the movement of freight. The second area is that of business interruption losses, which relate to transportation in the sense that access is essential to the functioning of businesses. The third area of loss is consequences of flood conditions that are not measured solely in dollars. Typical of this category might be increases in energy consumption or air pollution as a result of flood conditions./Author/