ClimateCost - a European project - made an assessment of future changes in the cost of floods in Europe. To achieve this, changes in the frequency of floods were combined with information on exposed assets, depth-damage relations and population density to estimate economic damages as well as the number of people living in flood risk areas. Under current conditions, the Expected Annual Damage (EAD) was estimated to be approximately €5.5 billion for the EU27.
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what do you mean by changes in the frequency of floods here: river flow or events with damage?
damage = loss? make sure that you are consistent throughout the report