CRICOS No. 00213J a university for the world real R Changing (water) landscapes Issues for value(r)s API NSW Country Conference 2014 Rydges Mount Panorama,

CRICOS No. 00213Ja university for the worldrealR

Changing (water) landscapes

Issues for value(r)s

API NSW Country Conference 2014Rydges Mount Panorama, Bathurst, NSW

2-3 May 2014

Dr Lucy Cradduck

1


CONTEXT• Water ‘issues’ becoming more prevalent

– Small, Newby & Clarkson, 2013

• More development in at risk regions– Robson, 2007; Yassin, Bond & McDonagh, 2011;

Sheehan, 2012

• Valuations need to be current and accurate– Spencer v Cth, 1907

• Changing ‘landscapes’ change risks– Diaz-Nieto et al, 2012


How to identify property at risk from water?


WHAT RISK?

• Sea

• River

• Sky

• Flood

4


Sea

5


Sea

• Rising sea levels– Cradduck & Teale, 2014

• Erosion – Zeppel, 2012

• More widespread flooding– Strauss, Tebaldi & Ziemlinksi, 2012

6


River

7


River

• Rising levels– Wilby & Keena, 2012

• Debris– Austin, 2013

• Flooding in previously ‘dry’ areas– Thagunna, 2013

8


Sky

9


Sky

• Storm surges– Harris, 1963

• Mudslides– Agence France-Presse, 2010

10


Flood

11


Flood

• Lack of understanding of risk– Cradduck & Teale, 2014

• Time lapse– Small, Newby & Clarkson, 2013

12


IDENTIFYING AT RISK PROPERTY

• Government proscription of information provision– i.e. S.149(2) EPA Act 1979 certificate on development or sale– Eves, 2002

• Government information provision– Local government authorities– Federal government data bases– Mapping

• Online services– Google Maps– OzCoasts – Other geographic information systems (GIS)

13


What can change the risk?

• Development

• Climate change

• (un)Reliable data


Development• More building in coastal regions

– Mason, 2011

• Impact from upstream events– Walker & Elks, 2010

• Development – Yassin, Bond & McDonagh, 2011

• Government interventions– Kunreuther, 1984

• Public works and changing policies


Climate change

• Storms will become more prevalent– Shephard et al, 2012

• Rising levels from climate change– Hu et al, 2013


Data

• Disclaimers– General on website

• … Council, makes no representation and gives no warranty about the accuracy, reliability, completeness or suitability for any purpose of the information. To the full extent that it is able to do so in law, the Council disclaims all liability … for losses and damages, … caused by or arising from anyone using or relying on the information for any purpose whatsoever…

– Paid search• Council makes no warranty or representation regarding the accuracy or

completeness of this flood enquiry. Council disclaims any responsibility or liability in relation to the use or reliance by any person on the information contained in this flood enquiry.

• Access to current data


OVERVIEW OF INSURANCE ISSUES

• Lack of understanding of issues– Risk

• Lack of history– Passage of time

• Policy wordings • Document literacy

– ABS, 2013

• Effect of exclusion provisions • Cradduck & Teale, 2014


Insurance issues, cont

• Cover

• Cost

• Responsibility


ISSUES FOR VALUE(R)S

• Data – Currency – Accuracy– Appropriateness – Completeness– Cost v instructions– Insurability

• Ease of use of systems

20


FUTURE CONSIDERATIONS

21

• Rising sea levels

• More sever weather events generally

– Wilby & Keenan, 2012

• Changing planning provisions– Rainbow Shores, 2013

• Acknowledging risks


22


Dr Lucy Cradduck

Faculty of Law, QUT, Brisbane, [email protected]

+61 7 3138 4022

23

Contact Details

mailto:[email protected]

Documents

CRICOS No. 00213J a university for the world real R Changing (water) landscapes Issues for value(r)s API NSW Country Conference 2014 Rydges Mount Panorama,