This article presents a methodological approach to flood direct tangible damage - damage to assets and direct intangible damage - environmental damage and loss of life assessment. The assessment of flood risk is an essential part of the risk management approach, which is the conceptual basis for the EU directive 2007/60/ES on the assessment and management of flood risk. The purpose of this directive is to establish a framework for the assessment and management of flood risk, aiming at the reduction of the adverse consequences for human health, the environment, cultural heritage and economic activity associated with flood in the community. Overall, an accurate estimation of negative effects on assets, environment and people is important in order to be able to determine the economy, environmental and social flood risk level in a system and the effects of risk mitigation measures.
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