  Weather-related risk makes the insurance industry inevitably concerned with
climate and climate change. Buildings hit by pluvial flooding is a key
manifestation of this risk, giving rise to compensations of the induced
physical damages and business interruptions. In this work, we establish a
nationwide, building-specific risk score for water damage associated with
pluvial flooding in Norway. We fit a generalized additive model that relates
the number of water damages to a wide range of explanatory variables that can
be categorized into building attributes, climatological variables and
topographical characteristics. The model assigns a risk score to every location
in Norway, based on local topography and climate, which is not only useful for
insurance companies, but also for city planning. Combining our model with an
ensemble of climate projections allows us to project the (spatially varying)
impacts of climate change on the risk of pluvial flooding towards the middle
and end of the 21st century.
