There is an increasing trend worldwide in the number of disasters and their total economic impacts. This is very evident in the analysis by Munich Re, a major reinsurance company, of what it terms Great Natural Catastrophes1 (see Figures 1 and 2). Flooding causes over one-third of the total estimated costs and is responsible for twothirds of people affected by natural disasters. Over 90% of people affected by natural disasters worldwide live in Asia, as the countries in Asia with large populations are particularly prone to recurrent flooding